Tiernan currently serves as Lloyd’s chief of markets, a role he has held since joining the organisation in May 2021. In this position, he has overseen underwriting, claims, exposure management, international regulation, market oversight, distribution, and the Lloyd’s Global Network. His remit has also included the Lloyd’s Lab, Lloyd’s Academy, and the organisation’s global agents.
“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
The upstream market, which has seen a 5% growth in capacity, is benefiting from a quiet year for losses. This growth continues to fuel soft market conditions. Insurers are under pressure to expand their market share, which has led to reductions in rates and an increasing willingness among underwriters to take on leadership roles, further…
The Fifth Circuit found that under Louisiana law’s one-year prescription period for products liability claims, Allied’s lawsuit was time-barred. The court ruled that RISE Residential, acting as an agent for the developer Provident Group-Flagship Properties, LLC, had constructive knowledge of the root cause well before the July 23, 2020 deadline. That knowledge, the court said,…
“I think the challenge is how can you control that? Because you wouldn’t, as an insurance company, declare overnight that everybody is allowed to write software to change pricing models,” he said. As a result, the question for the market is how to make sure that this technology is pointing in the right direction, which…
The transportation industry runs on reliability. The consequences can ripple far beyond a single shipment when cargo is lost, damaged, or delayed. Without proper coverage, businesses risk financial loss, reputational damage, and loss of key contracts, which can all be detrimental. This article will explore key insights from Jason McConkey, Director of Transportation Underwriting at…
The acquisition adds approximately $2 billion in enterprise value to The Standard’s group benefits division to expand its footprint in the voluntary benefits space, complementing its offerings in disability, life, dental, vision, and paid leave services. Source link
