E&S/Specialty

In the current economic climate, insurers who look to program business to generate additional premium volume will be conducting more thorough due diligence examinations of potential programs before agreeing to take them on.

Homeowner health complaints related to Chinese drywall products point up a need for contractors to obtain enhanced insurance coverage, but such protection may not be available, according to a brokerage expert.

While comparisons to mold and asbestos are inevitable, liability insurance exposures arising from the installation of tainted Chinese drywall in Southeast homes will not grow to asbestos-like proportions, legal experts predicted recently.

Insurers bracing for potential losses from the installation of defective Chinese drywall in homes in the Southeast may find themselves named directly in lawsuits, according to legal experts.

Despite the best of intentions and efforts of risk capital providers and program administrators, the reality is that change is inevitable.

American International Group announced last week it was accelerating the spin-off of its major property-casualty insurance units into a separate company so it can sell off a minority share to the public.