With Richmond, Va., continually growing as an excess and surplus lines insurance hub, the newest E&S carrier to set up shop there will distinguish itself with a "contrarian underwriting strategy," the company's chief executive says.
Signs of life may be returning to the residential construction industry, but the recession has left banks and developers suffering an unpleasant hangover.
Decisions such as the FEMA's to delay charging market rates for policies sold in certain areas under the deficit-ridden NFIP, could become more common, an insurer group said.
Joseph Peloso, a veteran of the program business segment, remembers a time when unsolicited program proposals flooded the desks of property and casualty underwriters, offering more business than they could possibly handle.
Businesses often overlook the need to buy extra or excess liability insurance limits, but these prudent coverage purchases are an essential safeguard, protecting against asset depletion from unforeseen risks.
More than 140 insurance and technology professionals attended the 2010 Duck Creek Insurance Forum, which was held earlier this month near Charleston, S.C.
With all tourist attraction businesses suffering in this struggling economy, insurers writing bed and breakfast establishments are experiencing many of the same problems as those who handle larger, more standard hotel risks.