From cyber risk to the changing regulatory landscape to increasing liability challenges for directors and officers, risks continue to evolve within the financial and professional liability insurance marketplace. What’s in store in the year ahead?
In its annual look at the state of the FINPRO liability insurance market, Marsh’s U.S. FINPRO Practice looks at the key trends that it expects to shape buyer and insurer behavior in 2017. Among the highlights from “The U.S. FINPRO Market in 2017: Our Top 10 List”:
- While directors and officers (D&O) liability insurance rates are expected to continue decreasing, insurers will likely broaden coverages in an effort to foster competition in the space, including adding entity investigation cost coverage and reinstating limits for full coverage.
- Securities regulations and resulting enforcement/claims will likely change under President Donald Trump’s administration and a Republican-controlled Congress.
- Evolving cyber risks across multiple platforms will prompt risk professionals to look to bridge financial and professional and property insurance programs to prevent potential gaps in coverage.
To read the full list, please click here.