Overview of the Liability market, during COVID-19 in the D&O environment

The COVID-19 pandemic has caused extensive implications for many businesses from all sectors of the economy, impacting a range of different lines of risk and insurance. Regardless of the size of the organisation, many Directors and Officers are facing immense pressure to simply stay ahead of emerging issues as new information is being shared and made available at a rapid pace.

In this special webinar series held on Friday the 8th of May, Dave Lynch – Head of Marsh JLT Speciality New Zealand, Sharanjit Chaggar – Head of FINPRO New Zealand, and Catherine Tait – Specialty Strategy Leader, New Zealand, discuss the best practices organisations can take regarding their management liability and their directors and officers insurances and renewals.

Key insights the team shared in this presentation include:

• The market for financial lines has been difficult for quite some time. As a result of COVID-19, this has been exacerbated
• Organisations who are approaching renewals should expect increased premiums, as well as potentially reduced limit availability and narrow cover
• While organisations should be mindful that this is expected, COVID-19 exclusions for D&O cover is currently only seen from UK insurers
• Early preparation is vital for the best results at renewal, clients should engage with insurer panels at every opportunity.