E&S/Specialty

Researchers delivered good news to directors and officers liability insurers who cover defendants in securities lawsuits this year, revealing that the number of securities class actions plummeted in 2009.

Surplus lines insurer executives are tackling the challenges of 2010 with a broad range of strategies, but whatever individual approaches they may adopt, all say their main focus is on strengthening wholesaler relationships.

If current trends continue, cyber insurance coverage just may take its place alongside workers' comp, general liability, fire and auto insurance in the core commercial property and casualty package.

As the economy goes, so goes the insurance market, excess and surplus lines experts agreed at a meeting here.

Veteran surplus lines insurance industry executives say they'll know a market turn when they see one, but so far, all the barometers they check to predict the proximity of a turn are stuck in soft market territory.

U.S. insurers regained lost ground in 2009 with the property and casualty sector's net income nearly tripling, to $35 billion, according to the Highline Data Performance Monitor.

Risk retention trade groups are urging prompt House action on legislation introduced last week that will allow their members to sell commercial property insurance.

An economic recovery could halt the movement by standard carriers into markets traditionally served by excess and surplus lines insurers, industry experts said.