Premium increase moderation continued this quarter, with premiums across all account sizes increasing by 7.7%, slightly up from the previous quarter’s 7.0%. It was the 26th consecutive quarter of increases.
Tag: D&O
AmTrust Acquires DUAL North America’s Middle Market Management Liability Practice
AmTrust Financial Services, Inc. announced today that it has acquired DUAL North America’s middle market management liability business, including its underwriting team and portfolio renewal rights. As part of the deal, seven DUAL executives will join AmTrust’s EXEC unit. “This acquisition represents an excellent, complementary addition to an already strong business at AmTrust,” said Jim… Continue reading AmTrust Acquires DUAL North America’s Middle Market Management Liability Practice
Global Directors Increasingly Concerned by Cyber Extortion and Ransomware: WTW and Clyde & Co
Cyber-attacks and data loss are the top risks facing Directors & Officers, with cyber extortion and the growth of ransomware attacks a leading concern, says a global Directors Liability 2022 survey from WTW and Clyde & Co. The survey identifies the key risks for Directors across the globe (covering the UK, Europe, Asia, Australasia, LatAm… Continue reading Global Directors Increasingly Concerned by Cyber Extortion and Ransomware: WTW and Clyde & Co
Volatile Markets, U.S. Lawsuits, ESG Issues and SPACs Create New Risks for Managers: Allianz
Board members and company executives are increasingly being held liable in a variety of scenarios. Today’s market volatility, with the increased threat of asset bubbles and inflation, the prospect of an increasing number of insolvencies as a result of the pandemic environment, rising scrutiny of companies’ environmental, social, and governance (ESG) performance, and the urgency… Continue reading Volatile Markets, U.S. Lawsuits, ESG Issues and SPACs Create New Risks for Managers: Allianz
Brit Combines Ambridge and BGSU to Create Leading U.S. MGA
Brit Ltd announced that it will be bringing together it’s US service company platform, Brit Global Specialty USA (“BGSU”), and its premier MGA, Ambridge. The combined entity, which will operate under the Ambridge brand as Ambridge Partners LLC, will create an MGA managing in excess of $450 million in premium in the U.S. and over… Continue reading Brit Combines Ambridge and BGSU to Create Leading U.S. MGA
McDonald’s Calls Out Ex-CEO in $37 Million Clawback Case
McDonald’s Corp. told a judge that ex-CEO Steve Easterbrook lied about four alleged sexual relationships with subordinates to dupe directors into letting him leave with stock awards as part of his severance. The fast food company, which is seeking to claw back at least $37 million from Easterbrook, urged the judge not to dismiss the… Continue reading McDonald’s Calls Out Ex-CEO in $37 Million Clawback Case
Shareholder Lawsuit Against Boeing Seeks to Hold Board Liable for 737 MAX Problems
A shareholder lawsuit filed on Monday accused Boeing Co’s board of doing nothing to investigate the safety of the 737 MAX until the fast-selling plane suffered a second deadly crash in five months. The lawsuit is the latest legal challenge facing Boeing over the 737 MAX crash in Indonesia in October 2018 that killed all… Continue reading Shareholder Lawsuit Against Boeing Seeks to Hold Board Liable for 737 MAX Problems
Nationwide Announces Acquisition of NJ-based E-Risk Services
Nationwide, one of the largest providers of insurance and financial services products in the U.S., announced today that it has acquired E-Risk Services, LLC, (E-Risk) a privately-held, leading program manager, highly specialized in a distinguished portfolio of management lines products. The E-Risk platform and solutions will enhance Nationwide’s market-leading excess & surplus lines business. Nationwide’s… Continue reading Nationwide Announces Acquisition of NJ-based E-Risk Services
Elon Musk Steps Down as Tesla’s Chairman in Settlement with SEC Over Go-Private Tweet
Elon Musk, under pressure from his lawyers and investors of Tesla, the company he co-founded, reached a deal with the Securities and Exchange Commission on Saturday to resolve securities fraud charges. The settlement will force Mr. Musk to step aside as chairman for three years and pay a $20 million fine. The S.E.C. announced the… Continue reading Elon Musk Steps Down as Tesla’s Chairman in Settlement with SEC Over Go-Private Tweet
SEC Weighs Blocking Investor Lawsuits
In its determination to reverse a two-decade slump in U.S. stock listings, a regulator might offer companies an extreme incentive to go public: the ability to bar aggrieved shareholders from suing. The Securities and Exchange Commission in its long history has never allowed companies to sell shares in initial public offerings while also letting them… Continue reading SEC Weighs Blocking Investor Lawsuits