E&S/Specialty

Despite the economic downturn, Bermuda remains a major player in the global captive marketplace. That was the message delivered by officials at the Bermuda Captive Conference.

American regulators must put into place "better, not simply more" financial services rules and regulators, London insurance market leaders warned.

Besides the financial market crisis, the top business risks multinational insurers face this year are failures to recognize model shortcomings and possible impacts from sweeping regulatory reforms, a report found.

New federal protections administered by any new federal consumer protection agency would create "a duplicative inefficient system," a property and casualty industry official told the House Financial Services Committee.

IPC Holdings, Ltd. said it will reach out to other parties to "solicit interest in a possible transaction" in addition to engaging in discussions with Validus Holdings, Ltd. about its offer, the company said in a statement today.

In the current market, the top concern for risk managers is the economic slowdown, which means added scrutiny of any dollars spent, an expert related at an industry conference.