Paragon’s key strength is enhanced by its presence in the fast-paced Bermuda market place. We are seeing an increase in capacity for directors and officers, errors and omissions and financial institutions liability, with new markets entering the professional liability area.
Employment Practices Liability
This is another dynamic product area in the Bermuda marketplace, in which Paragon has a wealth of experience. Carriers are continuing to compete on large company accounts on a primary basis, as well as with large blocks of excess capacity.
By law, punitive damages are uninsurable in certain states of the U.S. This creates a very real risk when companies are faced with the prospect of substantial punitive damages awards against them. The Bermuda market offers a solution to this problem by providing Punitive Wrap policies which are designed to wrap around the cover already in place and negate the gap in coverage which exists as a result of uninsurable punitive damages.