A.M. BestTV: Directors and Officers Liability Insurance Innovation Chases Expanding Risks
11 February 2016 - 4:34AM
Business Wire
This A.M.BestTV episode highlights the annual meeting of the
Professional Liability Underwriting Society (PLUS) Directors and
Officers (D&O) Symposium held in New York, NY, where attendees
said coverage for D&O has been racing to keep up with widening
liability and soaring costs as regulators, lawmakers and lawyers
create new risk exposures. Click on
http://www.ambest.com/v.asp?v=plus216 to view the entire
program.
“D&O has been incredibly innovative over the years. It is an
incredibly dynamic exposure that the industry covers,” said Steve
Shappell, chief legal officer, JLT Specialty USA. “The size,
frequency and nature of the allegations, as well as the various
sources of the claims…..has caused D&O to evolve, I believe,
beautifully over the years.”
Patrick G. Ryan, chairman and chief executive officer, Ryan
Specialty Group, addressed the concerns the industry has about
emerging risks.
“People in the industry don’t know enough about cyber risk, so
they won’t write it, but I think the only way to learn is to do so.
I encourage people to come together in a consortium, take a small
bite and learn as you go….because cyber, as we all know, is going
to be an ever-growing risk. It is everywhere, and the industry has
to respond,” said Ryan.
Other people that appear in this episode:
- Heather Fox, president, PLUS 2016 and
chief brokerage officer, ARC Excess & Surplus;
- Chris Warrior, head of management
liability, Hiscox London Market; and
- Bertrand Spunberg, practice leader of
executive risks, Hiscox USA.
Recent episodes of A.M.BestTV include:
- Analyst Discusses A.M. Best Rating
Considerations on Cyber Liability: Senior Financial Analyst
Fred Eslami explains how the company continues to monitor and focus
on insurers’ treatment of cyber liability exposures:
http://www.ambest.com/v.asp?v=cyber216.
- U.S. Economy on Growth Track Despite
Near-Term Hiccup, Say A.M. Best Economists: Senior Economist
Meg Mulry and Vice President James Gillard discuss their views on
the 2016 global economic picture, particularly in the United
States, and how insurers could be impacted in the year ahead:
http://www.ambest.com/v.asp?v=economy216.
- U.S. Insurers’ Exposure to Real
Estate Investment Changes: Senior Industry Research Analyst
Jason Hopper discusses the previous and current roles that
commercial real estate investments have within the portfolios of
insurers: http://www.ambest.com/v.asp?v=realestate216.
- Insurers on Climate: It is Not an
Easy Risk to Deal With: At the 2016 Investor Summit on Climate
Risk held in New York, NY, insurance representatives said the
industry needs to develop more products aimed at supporting energy
that is efficient, resilient and renewable:
http://www.ambest.com/v.asp?v=unclimaterisk116.
A.M.BestTV covers exclusive A.M. Best information and reports,
targeted topics and key developments in the (re)insurance industry
every Monday, Wednesday and Friday. Sign up for alerts of episodes
at http://www.ambest.com/multimedia/ambtvsignup.html. View
A.M.BestTV episodes at http://www.ambest.tv.
A.M. Best is the world’s oldest and most authoritative
insurance rating and information source. For more information,
visit www.ambest.com.
Copyright © 2016 by A.M. Best Company,
Inc. and/or its affiliates. ALL RIGHTS
RESERVED.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160210006257/en/
A.M. BestLee McDonald, 908-439-2200, ext.
5561Group Vice President, Publication and News
Serviceslee.mcdonald@ambest.com