Aspen Insurance IPO raises almost $400 million – report

They include a new head of cyber and a new president of middle market Source link

“A key difference between an action in tort and an action in contract is that in the latter, the standard of performance is set by the defendants’ promises, rather than imposed by law,” the court wrote. The indemnity obligation in this case, the court found, was one CHA “freely and intelligently chose to be bound”…

“Right now, there are three big, large account, commercial (underwriters). Gallagher is actually moving up in account size, pushing into Marsh, Aon, and WTW’s businesses, strategically… Gallagher is going larger, and the other big three are going smaller,” said Paul Newsome – managing director of Piper Sandler and vice president of The Association of Insurance…

Securities regulation and insurance oversight ​In the US, securities regulation is primarily managed at the state level, with each state establishing its own regulatory framework. The structure and oversight of securities regulation vary across states, with some integrating securities oversight within their insurance departments, while others maintain separate agencies.​ Source link

Upon receiving the claim, Steadfast conducted a multi-year investigation, which included emails, phone calls, site visits, and document requests. Ultimately, the insurer denied coverage in August 2021, citing a failure to comply with the policy’s requirement for “prompt notice” of loss or damage. Source link

Earlier in the legislative session, lawmakers considered creating a formal risk pool for commercial fishermen, modeled after municipal programs. Insurance Commissioner Lori Wing-Heier said such a pool could be established but noted concerns about funding and eligibility. She said the industry’s current financial condition could limit its ability to sustain a risk pool and added…