E&S/Specialty

The May 1 deadline for insurers to complete a climate risk disclosure survey may now have to be delayed to June or July, a key regulator said.

Markel Corp. announced that it has promoted Timberlee Tamraz Grove to chief operating officer of Markel Specialty.

Insurers have secured key changes in financial services reform legislation easing a proposed financial requirement for large firms and eliminating tighter regulation of financial product sales.

The World Trade Center Captive insurer said it was disappointed in a federal judge's order that it pay more to those clean up workers and uniformed services personnel sickened and injured at the World Trade Center, site after the Sept. 11, 2001 attacks.

Insurance company executives said insurers have themselves to blame for the prolonged soft market.

MarketScout, the Dallas-based insurance exchange, has announced that former Crump Inc. chief executive officer Glenn Hargrove has joined the firm to launch MSW--MarketScout Wholesale.

The soft market deepened last month for the property and casualty insurance industry, particularly for bigger buyers, with the overall composite rate declining 5 percent, compared with 4 percent in January, MarketScout reported.

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.