Explosion Of Claims May Push Drywall Suppliers, Installers Into E&S Market

While comparisons to mold and asbestos are inevitable, liability insurance exposures arising from the installation of tainted Chinese drywall in Southeast homes will not grow to asbestos-like proportions, legal experts predicted recently.

Still, news of the filing of the first class action over defective drywall has probably already moved some at-risk suppliers, builders and contractors into the surplus lines market, a specialty insurance underwriter said.

Insurance Market Direction Unclear For Commercial Transportation, Experts Say
Some participants in the transportation insurance segment, who are beginning to see flattening rates in most classes, predict a harder market will emerge late this year. Others in the industry, however, remain skeptical and note that, if anything, they've seen increased competition in recent months.

Program Carriers Look For Hard Data, Sound Forecasts, Not Empty Promises
Program administrators should be prepared, when marketing an established program, to provide a potential new insurance company partner with hard data, well-reasoned growth projections and adequate time for the insurer to consider the opportunity, according to LIU's Joseph Peloso, who provides a nine-step checklist.

Changing Partners Can Be A Risky Proposition For Program Administrators
Changing risk capital partners is not something taken lightly by program administrators. James L. Guerin and George P. Lagos, principals of GL Insurance Partners LLC, examine some of the key considerations for program administrators including continuity, exposure to implementation delay, and potentially increased administrative demand and expense.

Medical Professional Liability Financial Results: Are Pigs Flying?
Over the last 30 years or so, the expectation and reality for medical malpractice coverage has been to lose money on underwriting and make it up on the predictable investment income. Today, the situation is reversed with lower investment returns driving insurers to price to make an underwriting profit, according to James Hurley, a consulting actuary for Towers Perrin.

Temporary Doctors, Hotel Doctors Find Med Mal Coverage In E&S Market
With the cost and overhead of running private practices overwhelming doctors in recent years, many have looked for alternatives, including temporary staffing agencies for doctors, which have become one of the fastest growing health care trends this decade, according to Parker Harvey, a wholesale broker.

As N.Y. Med Mal Rate Freeze Approaches Expiration, Carriers Wonder What's Next
As a one-year mandatory medical malpractice rate freeze is set to expire at the end of June, interested stakeholders wait to see if state leaders will come up with a plan to address the state's worsening market.

'Association' Hallmark Is Focus Of Upcoming AAMGA Meeting
The American Association of Managing General Agents is gearing up for its annual meeting in Boca Raton next month, drawing its members to the gathering with the promise of networking opportunities.

High-Value Homes Need High-Value Coverage With Free Loss Control Features
Agents working with high-net-worth clients can offer specialized loss control services and enhanced coverage for what, in many cases, can be catastrophic claims, according to James Griffith of Burns & Wilcox.

U.S. Securities Class Actions Jumped 29% In 2008
U.S. federal securities class action suits in 2008 rose 29 percent over the previous year fueled by the global financial crisis, according to a report released recently by PricewaterhouseCoopers.

MAY ISSUE PREVIEW Coming Up Next Month NU's next E&S Extra e-newsletter, to be published on May 25, will include a feature on the sports/recreation insurance market and coverage from the annual meeting of the American Association of Managing General Agents.