TMCnet News

A.M. BestTV: Directors and Officers Liability Insurance Innovation Chases Expanding Risks
[February 10, 2016]

A.M. BestTV: Directors and Officers Liability Insurance Innovation Chases Expanding Risks


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 slami 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.


[ Back To TMCnet.com's Homepage ]