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Warren Buffett bemoaned the continued competition of the soft market, making a critical assessment of chief executives who pursue market volume over underwriting profit as Berkshire Hathaway’s insurance business produced a profit of 38 percent.
ProspX, Inc., developer of an on-demand search and sales collaboration platform for the commercial insurance industry, has completed an $8 million round of Series B funding to further accelerate the company’s growth.
What keeps E&S insurance executives up at night? That was the question posed to a three-member panel at the National Association of Professional Surplus Lines Offices (NAPSLO) Mid-Year Leadership Forum.
The Property Casualty Insurers Association of America is urging the Financial Stability Oversight Council to establish precise methodology for evaluating whether an insurer is systemically risky and should be subjected to federal oversight.
While AIG reported a net profit of more than $11 billion, its property and casualty subsidiary Chartis came in with an underwriting loss of $5.2 billion, primarily becasue of its reserve charge.
A hearing has been scheduled by a subcommittee of the House Financial Services Committee for March 9 amid signs legislation reauthorizing the program that passed the House last year will soon be re-introduced.
Buyers of directors and officers liability are worried about regulatory claims, according to results of a recently released survey in which more than three-quarters of participants ranked such claims among their top three claims concerns.
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