Financial and professional insurers generally increase excess capacity
Financial and professional lines rates declined 6%.
- Directors and officers (D&O) liability rates continued to decline, with increased insurer capacity available.
- Insurers generally limited primary capacity, but increased excess layers and showed more interest in historically difficult-to-place risks, such as US listed companies.
- Rates were generally stable for the financial institution (FI) sector, which also saw improvements in terms and coverage offered.
Cyber insurer competition accelerates
Cyber insurance rates were flat.
- Insurer competition continued to accelerate, with rates stabilizing and increased capacity typically available.
- Underwriters increased scrutiny regarding dependence on digital supply chains and war exclusions.