E&S/Specialty

The industry should “stay tuned” as the revised catastrophe model from Risk Management Solutions rolls out, the CEO of RenaissanceRe told NU, describing the model changes and potential market impacts as meaningful.

Bermuda-based Aspen Insurance Holdings Limited is positioning its U.S. specialty insurance operation for an inevitable market turn by hiring experienced professionals, according to CEO John Cavoores. Mario Vitale, an alumnus of Zurich and Willis, joined the leader board as president last week, bearing the battle scars of prior soft markets.

Reinsurers have let it be known that the reinsurance market would be prepared to take on some flood risk if Congress decides to pursue that option.

After a panel of excess-and-surplus lines industry leaders recently expressed concerns about insurers abandoning the wholesale-distribution channel, two E&S carrier executives reiterated their commitment to both wholesaler brokers and surplus-lines business.

Bermuda-based Aspen Insurance Holdings Limited is positioning its U.S. specialty insurance operation for an inevitable market turn by hiring experienced professionals, according to CEO John Cavoores. Mario Vitale, an alumnus of Zurich and Willis, joined the Aspen leaderboard as president last week, bearing the battle scars of prior soft markets.

The Broadway production of Spider-Man has had starts and stops, cast and crew injuries, bad reviews prompting rewrites and now its director is being replaced, putting off the already delayed opening night, but in the end, who is paying for all this?

Omega Insurance Holdings Ltd. Chairman John Coldman said he and CEO Richard Pexton got a “baptism by fire” since they joined the company, as the Bermuda-based insurer and reinsurer posted a $42.8 million 2010 loss.

State legislators and regulators “have a ways to go” to ensure that the surplus lines reform law goes into effect as mandated by Congress in July, the head of the National Association of Professional Surplus Lines Offices said.