Markets

To mitigate the risk of an errors & omissions claim, insurance professionals need to approach offering umbrella coverage with diligence and consistency.

Volatility is making it harder for agents to find coverage for their customers, whose demand has increased as awareness of large jury verdicts grows.

Over the past couple of years, awareness of an increasingly litigious environment has been a key factor leading to increased demand for personal umbrella coverage. However, significant growth has been stymied by premium increases and reductions in coverages and capacity—hallmarks of the hard market—leading to upheaval in the personal umbrella market. “The personal umbrella insurance market has…