Although most lines of coverage for Management and Professional Liability exposures were already firming pre-COVID-19, this specialized segment of the casualty insurance market hasn’t experienced the level of turmoil it is currently seeing since the early 2000s. Premiums are spiking, coverage limits are contracting, and client retentions are growing.
The coronavirus pandemic has unleashed a deluge of new challenges for management and professional liability underwriters, including COVID-19-related insolvencies, layoff-related discrimination and wrongful termination claims, and cyber breaches. What can agents and brokers do to navigate the Management and Professional Liability market for their clients?
Help your clients succeed with key insights and information from this report, including information on:
- Public & Private Company D&O, including the rise of SPACs and complexity it adds to D&O Liability placements.
- D&O/EPL market for nonprofits is relatively stable, outside of California and healthcare-related entities.
- Cyber Liability market is in a state of transition with rate increases in the double digits and more in-depth underwriting, with the focus on ransomware threats.
- While most of the Management and Professional Liability Market is firming, it’s still a great time to place Representations and Warranties insurance.
- State of Professional Liability industries, including a deep dive into Legal Professional Liability, Allied Healthcare, Architects and Engineers.