E&S/Specialty

A hardening market is a tough thing to pass up, so in February, Maritime Program Group of Manchester, N.H., launched an exclusive Motor Truck Cargo program with North American Specialty Insurance Co., a subsidiary of SwissRe, as an expansion of its nationwide business, says David C. Morrill, Inland Marine program...

As the economy begins to turn, competition in Transportation and Construction coverage are heating up the Inland Marine Specialty Insurance segment.

Although there wont be a flood of new markets available to independent agents, increased interest by carriers in the independent channel can translate into opportunity.

While the excess-and-surplus-lines sector is maintaining good profitability and strong balance sheets, challenges from high catastrophe exposures and low interest rates remain, says a report from Moodys Investors Service.

Insurance providers need to have no fear of failure when developing new products to adjust to and cover emerging risks associated with the fast-paced evolution and trends among worldwide businesses.

Bermuda insurers and reinsurers reported strong first-quarter earnings relative to a year ago, with several swinging back into the black after reporting Q1 losses in 2011.