National Underwriter's Guide to the E&S/Specialty Lines News


New E&S Insurance Operation Kinsale Launched In Growing Richmond Hub

With Richmond, Va., continually growing as an excess and surplus lines insurance hub, the newest E&S carrier to set up shop there, Kinsale Insurance, will distinguish itself with a "contrarian underwriting strategy," the company's chief executive says.

"Even within E&S markets, you see a flight to quality where E&S companies start to favor more preferred business," said Michael Kehoe, president and chief executive officer of Kinsale Insurance, which entered the market this month with $66 million of capital from private equity investors, an "A-minus" rating from A.M. Best and a team of more than 40 veterans of the E&S business.



Cyber Coverage: The New 'Must-Have' In The Property & Casualty Portfolio?
If current trends continue, cyber insurance coverage just may take its place alongside workers' compensation, general liability, fire and auto insurance in the core commercial property and casualty package, meaning a business would be foolish to open its doors without it. Rick Grimes and Karen Kutger, experts from wholesale broker Professional Risk Solutions, describe the emerging cyber risks for businesses and the coverage available from Network Security and Privacy Liability policies.

MarketScout Launches Different Wholesale Model With Hargrove At The Helm
Seeking to redefine the relationship between the wholesale and retail producer, Dallas-based electronic insurance exchange MarketScout announced that the former chief executive officer of Crump Inc., Glenn Hargrove, has joined the firm to launch MSW, or MarketScout Wholesale—a new platform that will be part wholesaler and part consultancy.

D&O Insurers Blame Themselves For Prolonging Soft Market Pricing
Insurance company executives said insurers have themselves to blame for the prolonged soft market during the Professional Liability Underwriting Society's Directors & Officers Symposium last month. Brokers were on the hot seat, too, as clients warned them not to overpromise coverage and services.

E&S Experts Tie Insurance Market Turnaround To Economic Recovery
An economic recovery could halt the movement by standard carriers into markets traditionally served by excess and surplus lines insurers, said industry experts interviewed during the 2010 Mid-Year Leadership Forum of the National Association of Professional Surplus Lines Offices Ltd. earlier this month.

Argo Tags Levinson To Lead All Its E&S Businesses
Argo Group US, a subsidiary of Argo Group International Holdings, Ltd., appointed former ACE Westchester executive Louis Levinson to head up the Argo Group's E&S segment.

Coming Up Next Month
In April, National Underwriter magazine and NU's E&S Extra e-newsletters will report on two of the more unique niche programs to be launched in the specialty insurance market this year, and offer some carrier and program administrator perspectives of conditions in the program business market generally.

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