Competition is overcoming a need for rate increases and policy tightening among providers of directors and officers policies for private companies and nonprofits.
As the world becomes increasingly precarious, new risks have either not been addressed or have been by the industrys refusal to accept the risk, said insurance industry legend Patrick G. Ryan.
Average rate increases for commercial and personal lines continued their slow ascent through August, rising an additional point over the prior month, says MarketScout.
A sales representative in Luanda, Angola, wakes up early one morning experiencing chest pain. Her employer, an American-based beverage company, provides a comprehensive travel-assistance program to its employees, and the sales rep has been instructed on how to use its services if she should experience an incident while traveling abroad.
As economies grow ever more connected across international borders, the potential hazards of business travel have inspired policies covering everything from luggage retrieval to extraction from hot spots.
Florida Citizens Property Insurance Corp. plans to make up to $350 million available to private insurers willing to assume its policies, offering low-interest, 20-year loans from its surplus to qualifying take-out companiesthose approved by the state Office of Insurance Regulation to remove policies from Citizens in order to reduce its...