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Our inaugural General Partnership Liability (GPL) Looking Ahead Guide offers a comprehensive analysis of the evolving general partnership liability landscape for 2025. The report examines key trends shaping the GPL market, including rising defense costs, regulatory shifts, competitive pricing, and increased claims activity. Drawing on expert insights and underwriter survey results, this guide provides valuable forecasts on pricing dynamics and claims trends. For in-depth analysis, access the full report on our website: https://lnkd.in/e7453-Sa #wsguide #FinancialServices #PrivateEquity #GPL

Understanding the VCF 5.2.1 Import Tool https://dy.si/qjiGzz

Did you know the VSA offers a free service to assist consumers and licensed dealers with dispute resolution? 🤝 🔗 You can find Connector on the VSA’s website, and access it via the VSA’s online information tool My Self-Help here: myselfhelp.vsabc.ca 🌐 #Connector #DisputeResolution #CarPurchases #VSA #VehicleSalesAuthority

In Part 2 of our asset recovery series, I talk about the unique opportunities that international trade brings for asset recovery. In situations where the primary debtor has gone insolvent, trade documents might open up new avenues of recovery against: ✅ shipowners (through BLs) for misdelivery claims ✅ warehouse/tank operators who have attornment holding products on your behalf ✅ assignments of receivables. Assignments are often a weak link though with multiple/fabricated assignments quite common in our work. #commodities #fraud #assetrecovery #misdelivery #BLs

MGAs are only as good as the Carriers that back them. Profile are immensely privileged to have the backing of seven quality A-rated property and liability Carriers, providing us with wide ranging appetite and coverage. We aim to provide bespoke solutions for your Clients, backed by an unrivalled commitment to service! #commercialinsurance #MGA #underwriting #ProfileUnderwriting

The surety industry continues to thrive, despite some challenges on the horizon. Surety carries and producers alike saw continued premium growth and profitability, due in part to inflation. 70% of respondents reported profitability equal to or greater than 2022. Results at the 2024 interim show greater optimism for 2024 than 2023, suggesting the tailwind will continue through year-end. Executives are seeing increased competition in the space, stating the need to improve brand recognition, and to attract and retain talent. One executive respondent notes that “the war for talent has not subsided” while another characterized the surety expertise market as a “talent puddle, not a pool.” Several respondents bemoaned that turnover in 2023 was greater than expected and that “an aging workforce is concerning”. Reinsurance treaty negotiation was listed as a top concern among surety executives, with many markets taking a “take it or leave it” attitudes towards primary writers when offering terms. Smaller sureties are thought to be hit the hardest by reinsurance negotiations, particularly those who relied heavily on low thresholds to provide higher surety capacity. Although reinsurance may be showing signs of a hardening market, executives are confident there is still plenty of capacity available. A major trend among sureties is the digitization and automation of bond underwriting and issuance, with 78% of respondents affirming this is a main priority. An initiative underway by The Institutes RiskStream Collaborative is looking for ways to incorporate blockchain technology to different surety bonding processes in the hopes to expedite administrative hurdles. To learn more about the state of the surety market, check out the summer edition of Surety Bond Quarterly from National Association of Surety Bond Producers.

Check out the latest insights on the impact of this shift in the freight broker bond market: [Link to the article]

Are you thinking about building a claims management solution in-house? A Canadian surety carrier thought they might have to – until they found an option that could be customized to meet their needs. Read the case study to learn more. #ClaimsManagement https://hubs.ly/Q02PBWKY0

The FCA has issued consultation paper CP24/22, which proposes updates to the rules for handling complaints tied to motor finance agreements with commission arrangements (excluding DCAs). We’ve written a clear, three-page summary covering: - The FCA’s long-term aims - Scope of the proposed extension - What these changes mean for your business - Benefits of each option - Your firm’s responsibilities Download the paper here: https://lnkd.in/epatUKKr #MotorFinance #FCA #Compliance #Regulations #ComplaintsHandling

Let’s talk about FMCSA Title 49 CFR 371.3 and transparency in brokerage. This regulation is clear: brokers are required to maintain records of every transaction, including the freight bill and the compensation paid to the carrier. But here’s the catch—it also states that carriers and shippers have the right to request this information. Yet, how often does this actually happen? Transparency is critical in building trust between brokers, carriers, and shippers, but it feels like this rule gets buried under industry norms. Should brokers openly share transaction details with carriers and shippers, as the regulation allows? Does this level of transparency disrupt the dynamics of how we’ve always done business? What value does sharing these transactions provide? Should brokers get the right to ask their customers what they are making off the product they are shipping? Should brokers get the right to request copies of a carriers insurance premium or their cost of operation to haul certain lanes? When does this information get constituted as proprietary? Where does the line in the sand get drawn? It’s a controversial topic, but one worth discussing. Transparency or tradition—what’s your take?