| National Underwriter's Guide to the E&S/Specialty Lines News |
RECENT E&S NEWSSocial Media And Surplus LinesThe use of social media by surplus lines insurers and agents to promote business is advertising. Despite the casual nature of social media sites, such as Facebook and LinkedIn, the use of social media is subject to state insurance laws that govern advertising and unfair trade practices, according to Susan T. Stead, a partner at Nelson Levine de Luca & Horst, who reviews the restrictions of various states in this article.
D&O Coverage Expands To Address Informal Regulatory Investigation Costs Despite research reports showing escalating numbers of securities lawsuits filed by government enforcers, such as the U.S. Securities and Exchange Commission, a buyers' market continues for directors and officers liability insurance, with carriers unveiling new forms and endorsements including long-sought coverage for regulatory investigations. Who Will Cover My Shrunken Heads? Determining the value of collectibles is just one of the issues faced by collectors and their insurers, insurance market participants say, including those who protect art, classic cars, baseball cards, perfume bottles, rifle collections and even the world’s largest collection of shrunken heads. More Securities Suits Ahead, Experts Say Experts, including a lawyer and a directors and officers liability insurance carrier representative, foresee a general uptick in D&O claims, building on a second-quarter surge in securities lawsuit filings that was largely headline-specific in the wake of the Deepwater Horizon disaster and other events. A soft D&O market persists, however, with double-digit price declines now possible for financial institutions and non-financial firms, brokers say. House Rep. Clarifies Surplus Lines Reform Intent To Avoid Delays As regulators prepare to implement the financial services reform legislation, Rep. Dennis Moore, D-Kan. sought to clarify the legislative intent of surplus lines provisions in a recent floor statement. New Business Bolsters 2Q Premium Growth For W.R. Berkley In the second quarter, W.R. Berkley Corp. experienced its first growth in overall premiums in 15 quarters due to growth in companies Berkley has started since 2006.
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