Professional Liability

The new product helps fill coverage gaps and provide substantive resources designed to protect organizations from existing and evolving D&O threats.

In 2021, the Great Reopening brought with it a return of the auto errors & omissions claim. Swiss Re received 183 of them last year and 2022 is on track to surpass it.

Despite the good news in the D&O market, uncertainty remains as the economy faces a period of higher inflation and a possible recession, which could lead to an increase in D&O claims.

“Directors & officers insurance is the only policy that can adequately protect board actions,” says independent agent William Simons. “The decisions and actions board members take are their personal responsibility.”

As capacity returns and rate increases decelerate, D&O market conditions have improved. However, agents need to remain diligent.

While cybercrime has skyrocketed over the last few years, what’s alarming is that business leaders have been slow to respond to these new threats.

While this highly connective and interactive virtual environment produces productive conversations and important discussions, it also can introduce employment practices liability insurance risks to your business.

Changes in health care are happening too rapidly for independent agents to assume the status quo for medical professional liability clients at renewal time.

Many businesses are cautious heading into the economic headwinds of a recession and may drop coverage to save money, making selling EPLI even more challenging.

“Not all EPLI policies are created equal,” says independent agent Christopher Paradiso. “It is so very important that we can educate our clients to make sure we are helping them make the best decision with the right carrier.”