E&S/Specialty

Closely watched lawsuit has been seen as a test of the ability of bond insurers to hold banks accountable for losses incurred insuring securities at the heart of the financial crisis.

Philadelphia Insurance has named Robert OLeary as its new president and CEO, effective immediately. OLeary previously served as the carrier's executive vice president and chief marketing officer. Sean Sweeney, in office for just a month, is stepping down as CEO of PHLY for personal reasons.

The House today introduced legislation that would extend the current Terrorism Risk Insurance Act until the end of 2019, representing the opening round of what is expected to be a tough battle to extend the program in its current form.

The House today introduced legislation that would extend the current Terrorism Risk Insurance Act until the end of 2019, representing the opening round of what is expected to be a tough battle to extend the program in its current form.

Validus Holdings reports a fourth-quarter net loss of $90.7 million on losses tied to Superstorm Sandywhich affected its two biggest classes of business.

Cyber-liability insurance may be a hard sell for independent agents, but the changing nature of exposures and the responsibilities states have imposed upon businesses are making it a growing necessity for even smaller mom-and-pop operations, says an educator.