E&S/Specialty

As we head into the summer months, the insurance market for the sports and recreation industries is stable, with submissions up, capacity plentiful and pricing remaining constant.

As consumers deal with the fallout from the recession, some are cutting back on coverage when insuring non-essential luxury items such as boats and other recreational watercraft--a short-sighted step that could come back to haunt them, carriers warn.

The American Association of Managing General Agents is gearing up for its annual meeting in Boca Raton, Fla., later this month, drawing its members to the gathering with the promise of networking opportunities.

NY Yankees Alex Rodriguez--in year two of a 10-year, $275 million contract--sent a scare through the sports contract insurance market when it was announced in March he would need surgery on his hip, costing him at least one-quarter of the baseball season.

Marsh insurance brokerage said today it has established protected cell captive insurance facilities in Washington, D.C. and the Isle of Man.

William R. Berkley, chief executive officer of the W.R. Berkley Corp. specialty lines insurance organization, said the market is turning faster than previously expected, but the initial upward rate hikes will likely be lower than past hard markets.