The move supports the company’s ongoing development of its next-generation Aon Client Leadership strategy, which aims to deliver integrated solutions to help clients manage their risks. The company also named Magnus Roe as global chief data and analytics officer. He is responsible for advancing the company’s capabilities in analytics and helping clients make data-informed decisions.
For the first time since 2018, civil litigation and third-party claims re-emerged among the top seven concerns, with 63% of respondents identifying them as significant D&O risks. Smaller companies, with revenues under $50 million, and mid-sized firms generating between $1 billion and $5 billion, were more likely to cite litigation as a major issue. Source…
Industry and market outlook The leadership transition comes as Argo adapts to shifting industry dynamics, including regulatory changes, rising litigation costs, and evolving risks in the specialty insurance sector. With Donahue at the helm, the company is expected to continue refining its underwriting approach while seeking growth opportunities in niche markets. Source link
The dispute stemmed from an April 2013 explosion at Exxon’s Beaumont, Texas refinery during a maintenance project. Exxon had contracted Brock Services, Ltd. to provide scaffolding services. Under the service agreement, Brock was identified as an independent contractor and was required to obtain insurance coverage, including workers’ compensation, employer’s liability, and commercial general liability (CGL)…
“The sale of Interboro formally completes our strategic transformation into a specialty insurer focused on underwriting commercial residential property insurance,” said Brad Martz, president and CEO of American Coastal. “All of our capital and human resources are now fully focused on our core business.” Source link
“For instance, travel insurance can be offered during a flight booking, motor insurance when selling a car, or gadget insurance with electronic goods. In fact, this model allows insurers to reach customers who were otherwise not seeking to take out a policy,” Benito said. Source link
Gallagher stated that Woodruff Sawyer recorded estimated pro forma revenue of $268 million for the 12 months ending December 31, 2024. Its earnings before interest, taxes, depreciation, amortization, and coronavirus (EBITDAC), including anticipated synergies, were approximately $88 million. The transaction values the firm at around 4.5 times revenue and 13.6 times EBITDAC, aligning with recent…
