UK Directors and Officers Liability Insurance 2020 Pricing Index
Marsh Specialty has published the UK Directors and Officers Liability Insurance 2020 Pricing Index.
Pricing pressure has been an increasing theme for directors and officers liability insurance placed in the UK and Ireland since 2017, commencing in high risk sectors and accelerating through 2020 as the Covid-19 pandemic created uncertainty and affected insurer caution.
Marsh Specialty compiled the UK Directors and Officers Liability Insurance 2020 Pricing Index using 2,340 placements of directors and officers programmes by the Marsh UK and Ireland team and subsequently processed by the data and analytics team.
The Index dives deep into what the past year has looked like, and why for:
- FTSE 100 companies.
- FTSE 250 companies.
- Public-US exposed companies.
- Public non-US exposed companies.
- Private companies.
While pricing pressure continues, new entrants are moving into the market and innovation is evolving the product offering. While some believe we are reaching price sufficiency, companies are proactively reducing their limits and looking at other risk mitigation strategies.
It is still a challenging time for directors and officers liability, but with careful preparation it is possible to understand the evolving market and deploy effective risk differentiation strategies.
Your risk advisor is well placed to assist you to navigate a path forward.