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Besides Vesttoo’s downfall, other hot topics during this year’s WSIA were talent, competition in the E&S sector and commercial auto.
In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk.
Secondary perils are adding uncertainty, while modelling is still relatively unsophisticated.
A typical cat year should now be thought of more as a $100bn-$150bn potential loss, as volatility leads to surplus lines growth.
Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett.
Everest is expecting to appoint a leader to head up the new wholesale operations over the next 30 to 45 days.
Hohman succeeds Elizabeth Kramer following her recent appointment as president of E&S Lines. He will also become a member of the MRSI executive leadership team.
Inside P&C considers some key themes attendees at this year’s conference should be considering on the boats and marinas of San Diego’s harborside.
Everest North America insurance president Mike Mulray will head up the business on an interim basis while the carrier appoints a permanent unit leader.
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