E&S/Specialty

South Dakota becomes the sixth state to sign NIMA agreement.

Procedures to unwind troubled insurance companies can be complicated by unforeseen tax issues, blindsiding stakeholders—regulators, creditors, owners of troubled companies, and even healthy ones included in consolidated returns—at a time when none of these parties is focusing on the Internal Revenue Service.

Producers who know the ins and outs of securing coverage for an art collection, expensive wine cellar or million-dollar foreign sports car may find that this expertise gets their foot in the door with some highly desirable clients.

Commercial prices continued to fall in the first-quarter of 2011, according to a pricing index based on reports from risk managers, but overall pricing remains 15 percent higher than levels recorded at year-end 2000.

While convincing collectors that they need to insure their art can be a challenge, those who crack the coverage code can find they’ve gained access to extremely desirable clients.

Validus Holdings has swooped in on Allied World Assurance to make a $3.5 billion bid to buy Transatlantic Holdings.