| National Underwriter's Guide to the E&S/Specialty Lines News |
RECENT E&S NEWSWholesale Veterans Launch Brokerage Co-Op; Retail Clients Are Part Owners"A difficult insurance market creates opportunities." That's how John Hahn, co-founder of Wholesale Trading Co-Op Insurance Services LLC, begins to answer the question of why it makes sense to launch another new wholesale brokerage during a soft market.
Customer Service Foils Hijackers As retail brokers struggle with the declining revenue of a continuing soft market, they are engaging in some activities that frustrate wholesale brokers, according to E&S broker executives. CSA Creates Challenges, Opportunities For Specialty Agents, Trucking Insurers With the delivery of warning letters to motor carriers from the Federal Motor Carrier Safety Administration still months away, transportation insurers are struggling to determine how to react to potential changes in exposure from the new oversight system, according to a coverage expert. Tommy Ruke, president of Insurance Business Consultants in Fort Myer, Fla., described scenarios that could prompt midterm policy cancellations as the FMCSA's CSA initiative moves forward. Medical Liability Writers Fear Getting Hammered Without Tort Reforms Plaintiffs' attorneys are stepping up their attack on medical liability tort reforms in several states and having success with the rollback of legislation in Illinois and Georgia, overturning caps on noneconomic damages, or pain and suffering. Crump P&C Acquires Target Underwriting Management Corp Roseland, N.J.-based insurance wholesaler Crump Group announced its subsidiary, Crump Property & Casualty Insurance Services, has acquired Target Underwriting Management Corporation, an Avon, Conn.-based managing general underwriter and program administrator. PRS Acquires Gremesco of Florida Assets Professional Risk Solutions, a Warren, N.J.-based professional liability wholesale insurance broker, said it has purchased the assets of Gremesco of Florida, LLC., expanding PRS' presence within the Southern U.S. marketplace, PRS said.
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