| National Underwriter's Guide to the E&S/Specialty Lines News |
THIS MONTH'S E&S FEATUREE&S Market Replay Anticipated In 2011; Execs Detail Diverse Coping StrategiesFor the most part, participants in the excess and surplus lines industry expect a replay of 2010 market conditions in 2011. But while a cluttered field that includes standard insurance carriers is making it harder and harder for prudent E&S underwriters to make headway during the down leg of the latest pricing cycle, they are trying to outlast the competition with a diverse array of strategies. During interviews conducted at this year's annual convention of the Kansas City, Mo.-based National Association of Professional Surplus Lines Offices, Ltd. held in Atlanta last month, E&S executives shared strategies ranging from service enhancements to product innovations to complete restructurings of their organizations—all designed to survive a prolonged test of endurance.
RECENT E&S NEWSExec Insights On Historic E&S MarketExecutives trying to predicting how the soft market will play out for the excess and surplus lines industry have absolutely no point of reference based on past experience, according to Thomas Mulligan, CEO of Western World Insurance Group—one of several executives to address questions about overall competition, standard markets and the economy at the close of a year that may mark a record-breaking fourth year of premium decline for the U.S. E&S industry. Coverage For Spyware Granted Under Two Policies Concurrently, Court Says This summer, the Eighth Circuit Court of Appeals decided that an online marketing firm was entitled to defense cost coverage under two different types of liability policies—CGL and E&O—for the same spyware download incident. Lawyers Richard J. Bortnick and Stephanie Gantman of Cozen O'Connor detail the facts of the underlying case and the subsequent July 23 ruling by the appeals court in Eyeblaster Inc. v. Federal Ins. Co. EPL Insurers Brace For Severe Recession Claims As employment practices liability lawsuits fueled by the recessionary job cuts move forward, experts see mixed signals for claims severity, including a possible fourfold spike in the level of emotional distress awards in successful cases. Ryan Specialty Acquires OakBridge Insurance Services Ryan Specialty Group, LLC said its wholesale brokerage unit, R-T Specialty, LLC, has acquired OakBridge Insurance Services, LLC—a specialty insurance broker specializing in executive and professional liability insurance. 2010 An Expensive Year For Aviation Claims Claims for the airline insurance market are expected to outpace premiums for 2010, exceeding $2 billion for only the third time since 1996, according to a report from Aon Analytics.
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