CAC Specialty’s Carrie O’Neil, Sara Kane, and Dameion Baker named to Insurance Business America’s Hot 100 2022 List

CAC Specialty is proud to announce that Carrie O’Neil, Sara Kane, and Dameion Baker have been named to Insurance Business America’s Hot 100 List for 2022. The IBA Hot 100 list recognizes the hottest industry professionals, whether they’re producers, innovators, or executives, who have turned these unprecedented challenges of the past year into amazing opportunities. The Hot 100 honorees are forward-thinking professionals and according to IBA, the best and brightest the industry has to offer. […]

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CAC Specialty Natural Resources Announces Partnership with VDE Americas

CAC Specialty Natural Resources is pleased to announce its partnership with VDE Americas to bring best-in-class modeling solutions to clients. VDE’s proprietary weather analytics, in combination with CAC Natural Resource’s insurance and risk assessment expertise, provide a comprehensive analysis of project risks that is unavailable elsewhere in the market. This is an exclusive partnership to deploy a natural catastrophe (Nat Cat) model that provides a bespoke analysis of the risks facing solar projects. The partnership speaks […]

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CAC Expands its Natural Resources Team with Leader in Energy Sector

CAC Specialty is pleased to welcome Mari Beth Ross to our Natural Resources, Power & Renewables team as Senior Vice President. Mari Beth will bring her expertise in wind and solar power generation, coal, natural gas, combined cycle, nuclear, retail energy, pipelines and gas production to the CAC Natural Resources team. Mari Beth has more than 25 years of experience as an insurance professional and is a proven leader in the industry. Prior to joining […]

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Afghanistan Refugee Community Support Project & 5K

It is important to us at CAC Specialty and Cobbs Allen to give back to our communities in times of need. In response to the earlier events in Afghanistan, we hosted a charitable drive and 5K to support refugees seeking asylum in the US, specifically in Denver. CAC Specialty and Cobbs Allen employees across all of our US offices were encouraged to donate items such as diapers, toiletries and school supplies for the Masjid Ikhals, […]

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CAC Specialty Expands Transactional Liability Team with Five New Hires

CAC Specialty is pleased to welcome five new hires to its Transactional Liability Practice.  Specializing in representation and warranty insurance, tax insurance, and contingent risk insurance, these hires represent a substantial investment in the growing Transactional Liability Insurance market and reflect CAC Specialty’s position as a market leader in the space. Alex Luxenburg specializes in representation and warranty insurance. Prior to joining, Alex underwrote representation & warranty insurance and held leadership positions with Hamilton Insurance […]

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Courtney Cassidy named a 2021 Rising Star by Insurance Business America

We are proud to announce Courtney Cassidy has been named to Insurance Business America’s Rising Stars for 2021. Courtney embodies the young talent that is expanding this industry and contributing fresh perspectives, energy and leadership. She joined CAC in January 2020 as an Account Manager and quickly rose in the ranks to Assistant Vice President. IBA recognizes up-and-coming stars ages 35 and under who are making a mark in the insurance industry. It believes insurance […]

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White Collar Crime: A Discussion with Adam Safwat, Esq of Nelson Mullins Riley and Scarborough

CAC Connect was thrilled to have had the opportunity recently to sit down and talk with Adam Safwat of Nelson Mullins Riley & Scarborough LLP and our own Bain Head.  Adam and Bain discussed the interplay between white collar crime, the federal securities laws and directors and officers liability insurance.  We hope you enjoy this informative podcast!  

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Considerations In Structuring Private Equity D&O Coverage

Law360 (September 10, 2021, 5:10 PM EDT) — Private equity firms provide critical financial backing and investments into companies with the dual goals of providing important sources of capital while also creating value for their investors. Deals can take many forms — from early-stage financing and growth equity transactions to leveraged buyout transactions and industry consolidations — all of which require special attention and present a host of transactional, regulatory and corporate governance hurdles. Those […]

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QUI-TAM ACTIONS IN THE BIDEN ERA

NEW LEGISLATION LIKELY SIGNALS A RISE IN QUI TAM ENFORCEMENT ACTIONS & RECOVERIES WHAT IS QUI TAM LEGAL ACTION? A qui tam legal action is where a private individual sues on behalf of the government. In the United States, qui tam actions fall under the False Claims Act. Under the False Claims Act, anyone who defrauds the federal government can be liable for hefty financial penalties. On July 6, 2021, President Biden signed emergency bipartisan […]

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CAC Specialty Pledges Five Scholarships for Underrepresented Students

Denver, CO – August 12, 2021 – CAC Specialty, a specialty insurance brokerage firm bringing bespoke insurance solutions to public and private corporations and private equity sponsors, is pleased to announce its participation with The Opportunity Network, an organization that addresses underrepresented students on their path to and through college. CAC Specialty has pledged five $1,000 scholarships to Opportunity Network applicants to support them in their mission to go from high school sophomores to launching […]

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CAC Specialty In Partnership with Protecdiv Completes Placement Deal with DT Midstream

CAC Specialty, a specialty insurance brokerage firm bringing bespoke insurance solutions to public and private corporations and private equity sponsors, today announced its first placement deal made in partnership with minority-led insurance and reinsurance broker, Protecdiv. The duo placed an insurance program for DT Midstream Inc. DT Midstream (NYSE: DTM) is an owner, operator and developer of natural gas pipelines, storage fields, gathering systems as well as compression, treatment and processing facilities. The Company transports […]

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CAC Specialty Expands the Natural Resources Team with Industry Veteran, Bill Chappell

We are pleased to announce that Bill Chappell joins the organization as Executive Vice President of the Natural Resources division. Bill will immediately begin developing innovative solutions for CAC’s energy clients, focused on all facets of the sector. He brings over 30 years of experience and joins the over 50 current team members of CAC Specialty’s Natural Resources team. “We are investing in the most talented minds in the industry. Bill’s robust experience in fossil […]

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A Mid-Summer Cyber Liability Update

We are thrilled to welcome two of CAC’s finest to our podcast today.  Adam Lantrip and Sam Levine join me to discuss cyber liability…the hottest topic in insurance right now.  We hope you enjoy.  

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RE-ENTRY

I haven’t written something personal in a long, long time.  That doesn’t mean I haven’t been thinking about writing.  So, here we go. No matter what your political affiliation may be, can we all agree that the biggest collective milestone we’ve hit this year is the reopening of the world from the COVID lockdown?  If your answer is “yes”, can I get an AMEN?  I know, I know.  The Delta variant is scary stuff.  And […]

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CAC Connect -Tips For Maximum Claim Recovery

Meet our legal and claims team and listen in as they discuss the top trends impacting claims recovery.  

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Uninsurability Defense – Two recent Delaware Court Rulings in D&O Insurance Coverage Cases are wins for policy holders

A recurring management liability coverage issue where policies do not expressly exclude disgorgement and restitution from covered “Loss” is whether disgorgement or restitution for alleged fraudulent conduct is otherwise uninsurable as a matter of law and/or public policy (the so-called “Uninsurability Defense”). A sometimes-related issue is the appropriate allocation for covered and uncovered matters and entities involved in claims. The answer to these questions, at least in Delaware, occurred in two recent cases where it […]

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CAC Specialty Expands its Transactional Liability Team With Experienced Senior-Level Hire

We are pleased to announce the hiring of Thomas Bonfiglio. Thomas will serve as Senior Vice President on the Transactional Liability team. “Thomas’s long experience in the representation and warranty insurance space, particularly his years as an underwriter, is huge for our team,” says Michael Wakefield, CAC Specialty Transactional Liability Practice Leader. “Adding his underwriting expertise – and the unique perspective he gained from seeing the industry from the vantage of both a broker and […]

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CAC Specialty Continues to Grow and Strengthen its Natural Resources Division with Multiple Power and Renewables Hires

CAC Specialty is proud to announce 14 new hires joining the CAC Natural Resources Division in the Power and Renewables vertical. Andrea Ash – CAC Specialty welcomes Andrea to its Natural Resources team as Executive Vice President, Head of Operations at CAC Natural Resources. Andrea is a proven leader bringing CAC NR over 14 years of operations, strategy, and process improvement experience. Prior to CAC NR, Andrea served as Chief Operating Officer of Beecher Carlson’s […]

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Entity Coverage: What is a Securities Claim?

What Is A Securities Claim? In addition to insurance for directors and officers, D&O policies for public companies provide balance sheet protection for the entity itself, but such coverage is generally limited to “Securities Claims” as defined in each policy, also known in the industry as “Side C” coverage. Typically brought in the form of class action and derivative lawsuits by shareholders, securities claims often allege breaches of disclosure or fiduciary duties, or misleading and […]

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Investment Banking Team Partners with CAC Specialty to Launch Silvercliff Partners, a Strategic Investment and Merchant Bank Focused on Energy Clients

A veteran investment banking team and CAC Specialty today announced the formation of Silvercliff Partners, LLC (www.silvercliffpartners.com), an independent advisory, investment and merchant banking platform.  The Firm will deliver bespoke and unconflicted advisory, capital solutions, and strategic consulting to public and private clients across all energy verticals.  Silvercliff specializes in the natural resources sector and will focus on both traditional and non-traditional ideas to assist clients in navigating an evolving energy landscape. Additionally, Silvercliff’s affiliation […]

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CAC Specialty Continues Expansion of its Natural Resources Practice with Executive Level Power, Utilities and Renewables Hire, Sara Kane

CAC Specialty, a specialty insurance brokerage platform bringing bespoke insurance solutions to public and private corporations and private equity sponsors, is pleased to welcome Sara Kane as co-leader of CAC Specialty’s Power, Utility and Renewables vertical, a part of the Natural Resources Division. “We are excited to add yet another significant leader to our team,” said Gary King, Executive Chairman of CAC Natural Resources. “Sara has spent nearly a decade working as a broker, an […]

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CAC Specialty Continues to Expand its Natural Resources Practice with Executive Level Power and Renewables Hire, Erin Lynch

We are pleased to announce the hire of Erin Lynch as President of our Natural Resources division and co-leader of our Power, Utility and Renewables vertical. Most recently, Erin led the Global Energy Practice at Beecher Carlson during her 14 year tenure. “We are extremely excited to have such an esteemed leader join our team,” said Gary King, Executive Chairman of CAC Natural Resources. “Erin brings vision and creativity to one of the most dynamic […]

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CAC Specialty Announces Appointment of Jen Jacobson as Senior Vice President

We are pleased to announce the appointment of Jen Jacobson as senior vice president of our Financial Lines Legal and Claims practice. “We are thrilled to welcome Jen to CAC Specialty and expand our presence in New York,” said John Tanner, chief legal officer. “Jen brings a wealth of knowledge and experience to our Financial Lines practice, particularly in public D&O, private equity, and transactional liability. The addition of Jen to our team reflects CAC’s […]

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Representation & Warranty Insurance Market Update

The past year has been a roller coaster by any measure, and the Transactional Liability Insurance market was not immune to the COVID-19 pandemic’s economic impacts. In short: after the bottom fell out, a record Q4 supported a strong finish – and the pace kept up through Q1 2021. Here, we review what we’ve learned and what we’re watching for going forward. RATES CLIMB HIGHER: BACK CLOSER TO HISTORICAL AVERAGES Before mid-2020’s extended slowdown in […]

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CAC Specialty Promotes Robert Plumb to Executive Vice President, Strengthens Natural Resources Team with Multiple New Hires

CAC Specialty is growing its Natural Resources team from within and adding four new members who previously worked at other leading brokers and insurers and will report to industry veterans Robert Plumb and Josh Kirklin. Robert Plumb – Plumb has been promoted to executive vice president, co-head of oil and gas within CAC Specialty, Natural Resources division. In this role, Plumb will work alongside Josh Kirklin to lead the practice. While serving as senior vice […]

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CAC Specialty Launches New Office in Knoxville, Welcomes Executive Vice President Tracy Tucker

CAC Specialty announces the launch a new office in Knoxville, Tenn. The new office in Knoxville will house the company’s expanded Natural Resources Division (CAC NR), which includes CAC Specialty’s Mining division. Along with the new office, CAC Specialty is proud to announce the hire of Executive Vice President for Commercial Surety at CAC Specialty Natural Resources in Knoxville, Tenn., Tracy Tucker. Mr. Tucker has more than 30 years of experience in the insurance industry, […]

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CAC Specialty Expands Multiple Teams with Industry Leaders

CAC Specialty announces the expansion of its executive-level team with two new employees – bringing 40 years of combined industry experience to the team. CAC Specialty is proud to welcome: Michael O’Brien – O’Brien joins as executive vice president within the business development division of CAC Specialty in Chicago. Prior to CAC Specialty, O’Brien served as a managing director and sales leader at Marsh, where he led key new accounts, focused on Fortune 500 firms. […]

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Remediation Stop Loss Solutions

We are excited to announce a re-launch of the environmental cost cap insurance product, and what we are now referring to as “Remediation Stop Loss” insurance. With increased demand for more cost certainty with regards to environmental remediation projects, Remediation Stop Loss insurance can act as a useful and necessary tool to shift some of the cost overrun risk to a third party. Today with the implementation of improved underwriting guidelines, more advanced remedial technologies, and […]

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CAC Specialty Announces its 2021 Risk & Insurance Power Broker Award Winners

DENVER, CO  (Feb. 22, 2021) — CAC Specialty, a leading global specialty broker, is proud to announce Andre Eichenholtz, co-head of property and casualty and head of diligence and portfolio solutions at CAC Specialty and Billy Kroupa, senior vice president at CAC Specialty, have been named 2021 Power Brokers® by Risk & Insurance magazine. This annual awards list by Risk & Insurance magazine recognizes individuals’ exceptional client work by evaluating the strength of client testimonials […]

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Zurich Exits Environmental Insurance Market

Zurich exits the environmental insurance market. Please visit the most recent Environmental Market update from CAC Specialty for more information on this and other market developments.

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E&O and Cyber Market Update

Today’s blog post is from CAC’s Cyber team. Enjoy! Hard Market The cyber market is officially hard. Having a strong and comprehensive c…

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CAC Cares Virtual Blood Drive

Community service is a cornerstone of CAC Specialty culture.  As a company, we serve our communities through organizations helping people in need, and we remain committed to service even during a global pandemic.  COVID-19 has left blood supplies dangerously low.  Many of our nation’s blood centers are facing critical shortages of 1-2 day supplies or less and need donations as soon as possible.  CAC Cares, our community service initiative, has organized a Virtual Blood Drive […]

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Looking for some good news…

It is 2021, and we are off to an interesting start. I’m going to leave it at that, and not focus on the negative. I’m looking for some g…

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CAC Specialty Enters New Year with Six New Hires, Expands Natural Resource Team

CAC Specialty is starting the New Year by expanding its Natural Resources Division (CAC NR) with six new hires. Robert Carvell – Robert joins as Senior Vice President of CAC’s Specialty’s Risk & Project Management division, Natural Resources in Houston, Texas. Prior to CAC Specialty, Robert was the Vice President of Risk and Project Management with Energy and Marine Risk Services in Houston, where he conducted asset integrity and condition surveys of offshore platforms, onshore […]

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CLIENT ALERT: Extension of the Production and Investment Tax Credits for Wind & Solar

Onshore wind projects have been given until the end of 2021 to begin construction in order to qualify for a 60% production tax credit (“PTC”) under section 45 of the Internal Revenue Code of 1986, as amended (the “Code”).  In addition, solar projects have been given a two-year extension until the end of 2022 to begin construction to qualify for a 26% the investment tax credit (“ITC”) under section 48 of the Code. In general, […]

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Transportation: State of the Market Update

State of the Market 2020 gave the transportation sector a raw deal. An industry already strained by a shortage of quality drivers and rising equipment costs must now wrestle with the impacts of COVID-19 and a dramatic increase in insurance costs. As risk managers know all too well, insurance can be one of the largest expenses for fleet operators. Insurance rates in the transportation sector have been ever-increasing as underwriters across the industry reassess the […]

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CAC Specialty is Growing and Thriving

The Insurer reports on the extraordinary growth of CAC Specialty and what will be fueling future growth. CAC Specialty revenues to pass $52mn in 2020  

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The “B” Word:

Bankruptcy and D&O Insurance We have to talk about the “B” word. No one wants to go there. But as COVID-19 continues to wreak havoc throu…

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Thank you, Dr. Munger!

In a regular year, the holidays can bring tremendous amount of additional stress. This year, that stress is expected to rise. During our most recent installment of our webinar series, Dr. Kelley Munger provides guidance on navigating holiday stress. If you were unable to join today’s live event, you may watch the webinar (or prior webinars) with Dr. Munger via the links below:   Navigating the Holidays in 2020 Dr. Kelley Munger, PhD, LPC, NCC Webinar: […]

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Webinar with Dr. Kelley Munger: Navigating the Holidays in 2020

Workplace mental health is no longer an afterthought. We are continuing our series of stress management during our interactive conversation with Dr. Munger about navigating holiday stress. Join us on Tuesday (12/15) at 2 p.m. CST Please use this link, or click the image below to register:  

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Cybeta Launches A New Alternative Dataset To Aid In Cybersecurity Breach Predictions

INDIANAPOLIS, Dec. 8, 2020 – Cybeta LLC, a leading cybersecurity data science company, launches an alternative data subscription service to bring its patent-pending breach risk assessment technology to market–the only technology in the world shown to be predictive of future cyber breaches. Cybersecurity breaches are one of the last remaining unsystematic risk factors without a verifiable probability of occurring. Cybeta spent years perfecting an algorithm to win the investment community’s confidence. Cybeta created Threat Beta™ to predict […]

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CLIENT ALERT: Recent Transfer Pricing Controversy

COCA-COLA AND AIRBNB HAVE BEEN IN THE NEWS LATELY REGARDING THEIR TRANSFER PRICING. Tax insurance can be used by multinationals to mitigate contingent tax exposures from related party transactions, including transfer pricing, valuation, and debt/equity treatment. The tax code is complex, and despite receiving tax advice from an attorney or accountant, the proper tax treatment of a transaction may be uncertain—because there is no clear guidance on the tax issue, the fact pattern is unique, […]

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CAC Specialty Strengthens its Rapidly Growing Natural Resource Team with Veteran Hires

CAC Specialty, a leading global specialty broker, continues to strengthen & broaden its Natural Resources Division (CAC NR) with three new hires focused on Mining, Claims, & Risk Management. Fred Smith joins the team from Willis, where he served as Senior Director and head of Willis’ U.S. Mining and Metals practice. Pete Krouse joins from McGriff, where he served as Vice President. Lloyd Wills joins from The Hartford, where he served as Senior Claims Account […]

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…are they employees or are they contractors?

Property-Related COVID Claims Update: I promised an update on the property-related COVID claims. It is coming! I’ve been focused on SPA…

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Mind the (SPAC) Gap

We’re taking a break from COVID (but not from social distancing and wearing our masks!) to dig into D&O coverage considerations when it c…

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MIND THE (SPAC) GAP

Introduction: As this article goes to print, there have been over 170 SPAC IPOs in 2020.  To say that SPAC transactions are “the hot thing” would be an understatement.  With their increasing popularity, however, we are also starting to see an increase in securities liability claims and other potential claim scenarios that can arise from missteps made during the lifecycle of the SPAC/deSPAC process.  This article is not intended to provide an in-depth analysis of […]

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Numb to the Numbers?

Is anyone else overwhelmed with the COVID business-related numbers and statistics we see every day? Add to that the fact that this is an…

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CAC Specialty establishes an Analytics Practice with appointment of Nathan Baseman

DENVER, CO – October 13, 2020 CAC Specialty announces the establishment of its Analytics Practice with appointment of Nathan Baseman as Senior Vice President and Analytics Practice Leader. Most recently, Baseman was Director of Analytics for Lockton Companies, where he was responsible for strategy, research and planning for a national analytics teams that spanned both benefits and property and casualty. In his role at CAC, Baseman will partner alongside all the existing analytic activity and […]

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CLIENT ALERT: CYBER

US TREASURY ISSUES GUIDANCE ON RANSOMWARE PAYMENTS AND SANCTIONS RISK NEW US TREASURY GUIDANCE HAS POTENTIAL CYBER RISK IMPLICATIONS The US Treasury, on October 1, 2020, released an advisory alert on potential sanctions for organizations regarding the payment of ransom during a ransomware incident. The risk of sanctions is tied to OFAC regulations and applies not only to the actual payment of ransom but also to the “facilitation of” payment. Within the context of cyber […]

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Welcome to CAC Live!

CAC Specialty is pleased to host our first annual conference for directors & officers liability and executive risk insurance. We had originally hoped to launch our inaugural event in a live and in-person format, however, as the world adapts, we too must adapt too. We are happy to introduce our digital event, CAC LIVE. This will act as the foundation for future in-person client forums. This virtual conference is free for all those invited to […]

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CAC Specialty Hires Cameron Martin, Katie Flynn, and Erica Kasperkowiak to its Rapidly Growing M&A Solutions Group

ATLANTA – GA – September 23, 2020 – CAC Specialty (“CAC”), building on its continued growth and success, announces the addition of Cameron Martin as Senior Vice President to the M&A Solutions Group, Katie Flynn as Senior Vice President to the M&A Solutions Group, and Erica Kasperkowiak, Senior Vice President of the newly created M&A Portfolio Solutions Practice– Human Capital Risk Martin led HAUSER’s Private Equity Risk Advisory Practice where he had overall responsibility for […]

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CAC Specialty Hires Matt Movafaghi to Join its Tax Insurance Practice

DENVER, CO – September 22, 2020 – CAC Specialty announces the expansion of its Tax Insurance Practice with the appointment of Matt Movafaghi, Esq. as Senior Vice President. Most recently, Movafaghi was Senior Tax Counsel for Chevron Corporation, where he was responsible for implementing sophisticated tax planning strategies and advising management on the tax aspects of Chevron’s global business operations. “CAC has a reputation for being a leader in the transactional liability insurance market, bringing top-notch […]

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News Out of the UK Last Week:

The headlines last week were encouraging…”UK Policyholders Win FCA Test Case For Lockdown Payouts”. And while it is true that quite a few…

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CAC Specialty Announces Creation of Natural Resources Specialty Practice and Hiring of Two Key Executives, Lisa Harris and Gary King

HOUSTON, TX – September 21, 2020 – CAC Specialty (“CAC”) is pleased to announce the appointment of Lisa Harris as Executive Vice President of Client Service and Gary King as Executive Chairman for its newly-formed Natural Resources Practice. The Natural Resources Practice will warehouse CAC’s key resources focused on serving clients in the energy, mining, power, and alternative energy sectors. Harris joins CAC Specialty with more than 17 years’ experience in the insurance brokerage industry; […]

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CAC Specialty/Cobbs Allen named to the Best Places to Work in Insurance list for 2020

Birmingham, AL – Cobbs Allen & CAC Specialty have been named to the Best Places to Work in Insurance list for 2020. The honor demonstrates that Business Insurance recognizes the organizations as a place where employees feel they can thrive and collectively contribute to company growth and success. “Our corporate mission is to always be out front for our clients, our employees, and our communities. From the top down, our employees exhibit integrity and respect for one another […]

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Insurers Blamed for Department Store Closing…

Happy Thursday! Today we’re focusing on one COVID-19 related issue and one D&O issue. Before we get started, however, we have a footnot…

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We Begin Again with the Stimulus/No Stimulus Update:

There has been no material movement on the stimulus package that we have been discussing for the past few weeks. Reports have indicated,…

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Webinar with Dr. Kelley Munger

We are pleased to share our most recent webinar with Dr. Kelley Munger in which she provides insight and suggestions to help reduce anxiety and build resilience during stressful times. We are thankful to share this content will all our employees, colleagues and friends and hope that it provides some guidance as we all strive to adapt during these challenging times. Thank you, Dr. Munger for another fantastic event! Dr. Munger Webinar Recording

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Stimulus Package? Where are you?

We were hoping to have some good news from Congress last week on the next COVID-19 stimulus package, but as of Friday, July 31, 2020, nad…

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Financial Stimulus?

Late last week, Congress adjourned without reaching a deal on the next pandemic stimulus package. Over the weekend, President Trump took…

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E&O and Cyber Midyear Update

  The E&O and Cyber insurance market remains in flux. Most Cyber insurers argue there is a need to correct pricing and retentions, but are pressured by competition and plentiful capacity on programs with less than $250 million of limit. The E&O market segment has been more successful in securing single to low double-digit increases, due to a smaller universe of insurers writing specialty, and often loss-sensitive, lines of E&O. However, with some major carriers […]

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Swapping an Exclamation Point for an Asterisk:

But first… Update on Financial Conduct Authority’s Test Case: As mentioned in an earlier post, the UK’s Financial Conduct Authority (FC…

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Michael Wakefield on Managing Transactional Risk

Michael Wakefield joined other industry leaders in a Financier Worldwide roundtable discussion on Managing Transactional Risk. In the August 2020 Publication, the panelists address how the transactional risk insurance market has continued to innovate amidst the COVID-19 crisis, and particularly how buyers and sellers are relying even more on representation & warranty insurance, tax insurance and contingent risk insurance to get deals done. Please click the link for a downloadable copy of the publication. FW […]

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CAC Specialty joins forces with the American Red Cross for a SleevesUp Campaign

Community service is a cornerstone of CAC culture.  As a company, CAC Specialty is striving to support our communities through organizations established to help people in need. In conjunction with the American Red Cross, we have organized a “SleevesUp” campaign. We work together every day to do important work, but today, we want to accomplish something even more meaningful. The Red Cross has to collect 15,000 blood donations every day to have enough blood to […]

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Our blog team has taken some time off over the last few weeks…

Hope you and your family are able to take some time as well. CAConnect is back, and here’s what we are thinking about… Michigan Court Rul…

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Taking a break from COVID-19 news

We are taking a break from COVID-19 news today and focusing on two recent cases, one just decided and one just filed. That does not mean…

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Bain Head named to 2020 Elite Women

Congratulations! We are proud to announce that CAC Specialty’s Bain Head and Cobbs Allen’s Marye Beasley Kohn have been named to Insurance Business America’s Elite Women for 2020. According to IBA, this year’s Elite Women are not just dedicated to the insurance industry – they are shining a light for future generations of insurance professionals and setting the standard on how to persevere through today’s especially challenging economic climate. Bain is Executive Vice President and […]

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Limited Immunity for Higher Education Institutions?

When and how are kids going back to school this fall? That is one of the biggest questions parents, students, teachers and administrator…

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Alternative Products & Structured Solutions Webinar: 6/11

Please join us on Thursday, June 11th for a webinar on Alternative Products & Structured Solutions. Standard insurance markets and products do not always provide acceptable risk management solutions for all risk, but that does not necessarily mean that those risks are not candidates for efficient risk transfer. Industry veterans from Zurich Insurance Company and Everest Re will join CAC’s own investment banker Jack Leventhal and Andre Eichenholtz in a panel discussion about the types […]

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Casino Sues Property Insurer for COVID-19 Losses

The dollar signs continue to add up in the stand-off between insurers and insureds over pandemic-related business interruption and other …

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CAC Specialty launches a strategic partnership with Liberty Advisor Group

Denver, CO – May 21, 2020 – CAC Specialty, an integrated specialty insurance brokerage and investment banking business, announced today a strategic partnership with Liberty Advisor Group, a premier consulting firm. Together, Liberty Advisor Group and CAC Specialty are creating a leading-edge solution for insurance clients.  This solution will enhance CAC Specialty’s dedication to client service through a new real-time data analytics insurance platform. The new platform will allow clients to analyze real-time information, enable […]

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CAC Specialty Announces Addition of Eric Joost as EVP Chief Technology & Global Markets Officer

DENVER, CO – May 20, 2020 – CAC Specialty announced today the addition of Eric Joost as Executive Vice President and Chief Technology & Global Markets Officer. Joost comes to CAC Specialty with more than 30 years of diverse industry expertise over a wide range of insurance products, markets and client segments. Alongside, Joost delivers a unique depth of knowledge in leading-edge technology – expertly bridging legacy platforms and new technologies across broking operations. Joost’s […]

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$200B in Projected Losses

Lloyd’s of London’s Forecast for the Insurance Industry Last week, Lloyd’s of London forecasted that the property and casualty insurance …

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Personal Liability for Unpaid Wages in Bankruptcy

Last week, a bankruptcy court in New York found an individual executive personally responsible to pay the wages of the former employees o…

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A Conversation with Berkshire Hathaway Specialty Insurance

On Friday, April 24, 2020, CAC Specialty hosted a Property & Casualty marketplace update discussion with senior leaders at Berkshire Hath…

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Public Companies Taking Federal Assistance Money are Taking Heat

Last week, Congress passed another stimulus bill designed in part to replenish the Paycheck Protection Program that provides loans to ass…

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Tables Turned

Insurer Files Dec Action Against Insured Re COVID-19 Coverage We’ve touched on numerous declaratory judgment actions being filed by polic…

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Update on Business Interruption Recovery Efforts:

As discussed in previous posts, businesses forced to close as a result of governmental orders related to COVID-19 are pursuing every aven…

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CAC Specialty’s D&O Claims Update

On Tuesday, April 14, 2020, CAC Specialty hosted a D&O Claims Update with four senior claims professionals in the industry. We were thri…

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CAC Specialty’s D&O Webinar: Part 2

CAC Specialty’s D&O Market Update: On Friday, April 3, 2020, CAC Specialty hosted the second of two D&O Market Updates with some of the m…

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Continued impacts of COVID-19…

COVID-19 Impact on Public Companies According to a report in the Wall Street Journal this morning, since the beginning of the pandemic: j…

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News & Views: Issue 1, 2020

Welcome to CAC Specialty’s latest edition of News & Views, a publication covering legal news, developments, and trends in executive, employment, crime, and cyber liability. As this document “goes to print,” the United States and the entire world are feeling both the physical and financial impacts of COVID-19. CAC Specialty is closely monitoring the virus and the impacts it will continue to have on our clients’ businesses, as well as the management and professional insurance […]

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Did you grow up eating Chef-Boyardee pasta?

The Market: The DJIA opened at 20,943.51. Unemployment numbers came out this morning, and a record 6.6 million Americans filed this past…

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Welcome to our new blog, CAConnect!

We are excited to announce our new Blog! Our goal is to provide periodic thoughts and musings on the impact COVID-19 is having on the insurance marketplace as a whole, and more specifically on the management and professional liability space. Where appropriate, we will do our best to add some levity as well. As we navigate our new norm, we hope you will find this site to be informative and helpful. Thank you all for […]

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CAC Specialty Announces Addition of Edward Krayer to M&A Solutions Team

DENVER, CO – April 2, 2020 – CAC Specialty announced today the addition of Edward (Ed) Krayer as a Senior Vice President in CAC Specialty’s M&A Solutions team. Krayer comes to CAC Specialty with more than 14 years of experience in the industry and as a specialist in supporting private equity sponsors in the Northeast. Krayer’s experience includes work at several global brokers. He has served as Vice President at Aon, Senior Vice President at […]

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CAC Specialty’s D&O Webinar: Key Takeaways

CAC Specialty’s D&O Market Update: On Friday, March 27, CAC Specialty hosted the first of two D&O Market Updates with some of the most se…

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David Barnes participates in COVID-19 related M&A Panel:

Recap of CAC Specialty’s Participation in COVID-19 Related M&A Panel: Yesterday, CAC Specialty’s David Barnes, Senior Vice President Tran…

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CAC Specialty Expands Property and Casualty Service Offerings with Addition of Loss Control and Claims Advocates

DENVER, CO – March 27, 2020 – CAC Specialty continues to expand its service offerings in the property and casualty arena, announcing today the addition of Robert (Bob) Trinkleback, Leader of Property and Casualty Loss Control, and Jonathan (Jon) Goodier, Vice President – Property and Casualty Claims Advocate. “Bob and Jon are outstanding additions to our team, moving us toward our goal of expanding our risk management capabilities,” said Bruce Denson Jr., President of CAC […]

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Glad you came to CAConnect!

Welcome to CAConnect! Our goal is to provide periodic updates on the impact COVID-19 is having on the insurance marketplace as a whole, …

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D&O Insurance and the Coronavirus (COVID-19): Key Issues & Talking Points

As we grapple with the human and personal effects of COVID-19, the pandemic is forcing companies and their directors and officers to closely examine risks related to the virus and potential insurance that may be applicable to sustained losses. CAC Specialty’s Financial Lines Practice answers your frequently asked D&O insurance questions. As was the case with the relatively few claims that arose from past pandemics, we anticipate the early COVID-19 related claims will target the […]

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COVID-19 Pandemic Considerations for Transactional Liability Insurance

The impacts of the pandemic resulting from the coronavirus disease (COVID-19) have created unprecedented uncertainty and turbulence across the globe. Our highest priority – as a society, an industry, a company, and individuals – should be doing our part to stop the virus’s spread. But within the context of our work as Transactional Liability Insurance brokers at CAC Specialty, we will also continue to secure and execute the best possible risk-transfer solutions for our clients. […]

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A WIN For Corporate Filers

Delaware Supreme Court Decision Validating Federal Forum Provisions in Certificates of Incorporation is a Win for Issuers and the D&O Insurance Marketplace On March 18, 2020, a very important decision was handed down in the Delaware Supreme Court. The case, Matthew B. Salzburg et al. v. Matthew Sciabacucchi, involved three companies (Blue Apron Holdings, Inc., Roku, Inc. and Stitch Fix, Inc.) which added Federal Forum Provisions (FFP) to their certificates of incorporation prior to filing […]

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A Roadmap to Finding and Negotiating Pollution Coverage for Covid-19

As we grapple with the human and personal effects of COVID-19, the pandemic is forcing companies to closely examine their corporate insurance programs to determine where, if at all, coverage can provide some relief to the economic losses that COVID-19 will cause. One of the best places to start is by reviewing your pollution legal liability (PLL) policies, which may have been placed recently, or as long as 10 years ago, but which may still […]

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CAC Specialty and Fortress Equipped to Provide Financing Amid COVID-19 Impacts

CAC Specialty, through its strategic relationship with Fortress, is equipped to provide financing for CAC clients facing liquidity pressure due to the direct and indirect impact from COVID-19 DENVER, CO – March 18, 2020 – CAC Specialty previously announced the formation of a strategic relationship with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). The strategic relationship with Fortress allows CAC Specialty to support the capital needs of its clients in connection with […]

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CAC Specialty Broker Grant Nichols Recognized as a 2020 Environmental Power Broker

We are thrilled to announce that our own Grant Nichols was named a 2020 Power Broker by Risk & Insurance. Grant joined CAC Specialty’s environmental group in 2019 and brings over fifteen years of experience in crafting risk management solutions for business issues, both as an attorney and as an insurance broker. Specializing in environmental risk mitigation, he works with private equity firms, real estate developers, lenders, environmental consultants, manufacturing companies, and municipalities to mitigate […]

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Insurers Looking For Slight Increases After Several Quarters of Decreasing Price and Increasing Coverage

Continued market hardening in all lines of coverage, most notably in Directors & Officer’s liability, has created a market dynamic where Cyber insurers may begin to seek modest rate increases across their portfolios in 2020 and 2021. While we expect most of our strategic insurer partners to differentiate clients and not paint all customers with the same brush, at this stage it is prudent to caution all clients to expect some potential rate increase from […]

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CAC Specialty Announces Appointment of Carrie O’Neil as Senior Vice President

DENVER, CO – March 9, 2020 – CAC Specialty is pleased to announce the appointment of Carrie O’Neil as Senior Vice President in its Financial Lines Legal and Claims Practice. O’Neil joins CAC with experience on both the brokerage and insurer sides of the insurance industry. Most recently, O’Neil was a Senior Vice President at JLT Specialty, leading the financial lines’ Legal & Claims team. Prior to joining JLT, O’Neil was a product development specialist […]

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Representation & Warranty Market Update – Q1 2020

Download and review our Q1 2020 newsletter. Contents include: RWI growth in 2019 Range of Deal Sizes Expands Energy Healthcare Cannabis View PDF

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D&O Price Increases Accelerate in the First Two Months of 2020

Premiums for Directors & Officers liability insurance have generally been increasing for the last 18 months. Primary premiums have increased gradually, approximately 3 – 5% each quarter over the last 5 quarters, though on an annual basis the compounded increase is more dramatic. For companies with no adverse development in their risk profile, primary premiums for D&O programs renewing in the first quarter of 2020 are often 20% or more higher than 2019 first quarter […]

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CAC Specialty Expands Environmental Practice Group with Addition of John Kim

SAN FRANCISCO, CA – February 18, 2020 – CAC Specialty is pleased to announce the appointment of San Francisco-based John Kim as Senior Vice President within its Environmental Practice Group. With more than 25 years’ experience in the environmental space, John brings an added depth to the Environmental Practice Group – that of a senior-level environmental professional who has worked on large and complex environmental projects and transactions. “John’s decision to join CAC is a […]

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CAC Specialty and Cobbs Allen Announce Chris Trotter as Chief Financial Officer

CAC Specialty and Cobbs Allen are pleased to announce the appointment of Chris Trotter as Chief Financial Officer and member of the Executive Committee for both firms. In his new role, Trotter will oversee the financial operations of both CAC Specialty and Cobbs Allen, lead the Capital Markets efforts of both companies, liaise with financial partner Fortress Investment Group, and help strengthen Private Equity Sponsor relationships. “We are delighted to add Chris to the team,” […]

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CAC Specialty Expands Private Equity Focus with Addition of Ned Murphy and Dan Lehmann

CAC Specialty continues to expand its M&A Solutions specialty with the additions of Ned Murphy and Dan Lehmann. Both Murphy and Lehmann join as Senior Vice Presidents with a focus on business development and client service. In their roles, Murphy and Lehmann will work closely with CAC’s M&A Solutions team and Investment Banking platform, focusing on business development and client advisory for Private Equity, Financial Institutions, Fintech and High Net Worth clients across the country. […]

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Professional Liability Practice Press Release

Download the Professional Liability and Cyber Practice Group press release from TheInsurer.com

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CAC Specialty Hires Jordan B. Tamchin to Lead its Tax Insurance Practice

CAC Specialty announces the expansion of its Transactional Liability Practice with the appointment of Jordan B. Tamchin, Esq. as Senior Vice President and leader of its Tax Insurance Practice. Most recently, Tamchin was Vice President, Tax Insurance Counsel for Concord Specialty Risk, a part of Ryan Specialty Group’s RSG Underwriting Managers, where he underwrote a wide range of tax risks for corporations and private equity funds. “CAC Specialty has shown a commitment to building a […]

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News and Views Newsletter: Dec, 2019

Download and review our December 2019 “News & Views” newsletter. Contents include: Mandatory arbitration provisions in erisa class actions Delaware supreme court: What is a “Securities Claim?” California supreme court: Notice-prejudice rule overrides choice-of-law provision 10 ways to screw up your insurance recovery

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CAC Specialty Establishes a Leading Specialty Environmental Risk and Insurance Group

CAC Specialty is pleased to announce the appointment of Gregory Schilz as Executive Vice President to lead the firm’s newly-formed Environmental Practice Group, along with Senior Vice Presidents Grant Nichols and Brian Lu. The group is a national practice focused on crafting risk management solutions for clients who own, purchase, develop, and operate properties and assets that have, or could have, pollution-related exposures. “We are thrilled to welcome Greg, Grant and Brian to CAC Specialty,” […]

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CAC Specialty Establishes Strategic Relationship with Fortress Investment Group

CAC Specialty, a first-of-its-kind platform combining insurance brokerage, investment banking and structured finance capabilities, today announced the formation of a strategic relationship with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). The strategic relationship with Fortress, which previously provided financing for the formation of CAC Specialty will allow CAC Specialty to support the capital needs of its clients in connection with acquisitions, recapitalizations, growth capital and other bespoke financing transactions. “CAC Specialty has […]

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CAC Specialty Hires Chelley Schaper to Lead Real Estate Practice

CAC Specialty is pleased to introduce Chelley Schaper as our newest Senior Vice President. Schaper brings more than 20 years of experience, including 16 years at Lockton working with complex risk accounts, with a specialization in the real estate industry. Most recently, Schaper founded a technology platform for the health and wellbeing company, ActiveSoul, Inc, where she served as CEO. Combining her technical insurance expertise with a nimble and outside the box mentality, Schaper is […]

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CAC Specialty Welcomes Brad Elliott as Senior Vice President

CAC Specialty is pleased to welcome Brad Elliott to the team as Senior Vice President and Team Leader. Elliott’s focus will be on the full spectrum of risk solutions to solve clients’ complex risk challenges. “As CAC Specialty continues to grow, we remain committed to being the broker of choice for the top talent in the industry,” said David Payne, Chief Revenue Officer of CAC Specialty. “We are thrilled that Brad has decided to join […]

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CAC Mentioned in Business Insurance

CAC Specialty was recently recognized by Business Insurance. Several insurers and brokers attending the Insurance Leadership Forum in Colorado Springs, Colorado, last week were launching and promoting new strategies and services to executives at the meeting. Recently launched units, expansion of underwriting areas and efforts to streamline business processes were all discussed during private meetings at the annual event, sponsored by The Council of Insurance Agents & Brokers. Read more from Business Insurance on CAC […]

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CAC Specialty Announces Financial Sponsors Group

CAC Specialty today announced its newly-formed Financial Sponsors Group (“FSG”), a dedicated team providing insurance and capital market solutions to the private equity community. “We couldn’t be more excited to launch FSG,” said Mike Rice, CAC Specialty’s CEO. “We are fully committed to bringing together the best talent in the industry to serve our financial sponsor clients. We strive to make an impact for our clients through our ability to bring integrated insurance brokerage and […]

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News and Views Newsletter: Oct, 2019

Download and review our Octoberr 2019 “News & Views” newsletter. Contents include: Appraisal actions are ‘securities claims’ under D&O policies No coverage for class action alleging ‘related wrongful acts’ D&O policy’s bankruptcy exclusion is a prohibited ipso facto clause Fifth Circuit rules securities exclusion bars coverage for sellers’ alleged misrepresentations D&O coverage precluded by health care exclusion and related wrongful acts Delaware supreme court reverses court of chancery’s duty of loyalty decision under caremark

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CAC Specialty Appoints André S. Eichenholtz to Lead Portfolio Solutions Group

CAC Specialty announces the appointment of André S. Eichenholtz as the leader of its Portfolio Solutions group. Eichenholtz brings over 30 years of brokerage experience and has built two successful private equity M&A practices prior to joining CAC Specialty. He was formerly the Head of M&A Diligence and Placement at JLT Specialty. Prior to that, he helped start a boutique insurance brokerage which specialized in Private Equity M&A transactions. “The addition of yet another industry […]

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CAC Specialty Appoints Michael D. Rice II as Chief Executive Officer

CAC Specialty, the industry’s only integrated specialty insurance brokerage and investment banking business, today announced the appointment of Michael D. Rice II as its Chief Executive Officer. Rice brings more than 25 years of experience in the brokerage industry. Most recently, he served as the founding Chief Executive Officer and Executive Chairman of JLT Specialty USA. Previously, he spent more than 20 years at Aon serving in various leadership capacities. “We are delighted that Mike […]

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CAC Specialty Announces the Appointment of Colin Daly to Co-Lead Financial Lines Practice

CAC Specialty is pleased to announce the appointment of Colin Daly as Executive Vice President and co-leader of CAC Specialty’s Financial Lines Practice (FLP). Daly comes to CAC Specialty from JLT Specialty US, where, as a founding member, he helped shape the US business and, in particular, formed and grew the Financial Lines Group nationally. Prior to JLT, he served as the national leader of Aon’s Financial Services Group. Daly started his career as an […]

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CAC Specialty Announces Appointment of Jennifer Schaeffer as Senior Vice President

CAC Specialty, a specialty insurance brokerage and investment banking platform bringing bespoke insurance solutions to public and private corporations and private equity sponsors, is pleased to announce the appointment of Jennifer Schaeffer as Senior Vice President. Schaeffer will anchor West Coast business development efforts to accelerate growth and improve customer coverage. “We are thrilled to welcome Jennifer to CAC Specialty,” said Paul Sparks, Chairman of CAC Specialty. “CAC hires exceptional people and empowers them to […]

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Cobbs Allen Forms CAC Specialty to Serve Corporates and Private Equity Sponsors

Cobbs Allen today announced the formation of CAC Specialty, a specialty insurance brokerage and investment banking platform that will bring bespoke insurance solutions to public and private companies and private equity sponsors. CAC Specialty represents the next wave in the long-term convergence of insurance and capital markets by combining structured finance solutions with insurance broking capabilities. CAC Specialty will be led by a team of experienced and accomplished insurance and capital markets executives. Paul Sparks, […]

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CAC Specialty Launches to Serve Corporates and Private Equity Sponsors

Cobbs Allen today announced the formation of CAC Specialty, a specialty insurance brokerage and investment banking platform that will bring bespoke insurance solutions to public and private companies and private equity sponsors. CAC Specialty represents the next wave in the long-term convergence of insurance and capital markets by combining structured finance solutions with insurance broking capabilities. CAC Specialty will be led by a team of experienced and accomplished insurance and capital markets executives. Paul Sparks, […]

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Cobbs Allen Announces Continued Expansion with Hiring of David Payne

Cobbs Allen announces the continued expansion of its insurance brokerage team with the addition of David Payne. Payne will join the leadership team that is building a national specialty platform focused on providing complex risk solutions for corporate and private equity clients. Payne most recently served as Chief Revenue Officer at JLT US, where he led client and prospect initiatives for one of the fastest-growing brokers in the U.S. market. He has a long track […]

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Cobbs Allen Announces Hiring of Sparks and Sonderman and Creation of Specialty Insurance Brokerage Business

Cobbs Allen announces the hiring of industry veterans Paul Sparks and Darren Sonderman to lead a new venture in the growing Cobbs Allen portfolio. Sparks and Sonderman each bring over 25 years of experience gained from founding and leading the Financial Services Division of McGriff, Seibels & Williams, Inc. The new venture is focused on providing complex risk solutions for corporate and private equity clients. It will combine structured solutions capabilities with insurance brokerage services […]

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