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With increased D&O market competition, coverage reevaluation is critical

As risks continue to evolve, companies face complex challenges. And their directors and officers may need to contend with greater litigation risk, underscoring the need for adequate protection through a robust directors and officers liability (D&O) insurance program.

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02/16/2023 · 3-minute read

As risks continue to evolve, companies face complex challenges. And their directors and officers may need to contend with greater litigation risk, underscoring the need for adequate protection through a robust directors and officers liability (D&O) insurance program.

In this episode of Risk in Context, Kerri Petri, growth leader for Marsh’s FINPRO Practice in the US, speaks with Bryan Berkman, placement leader for Marsh's FINPRO Practice in the US, Stephanie Manson, the head of management liability within Marsh's FINPRO UK Practice, and Matt McLellan, D&O product leader in the US. They discuss trends in the D&O insurance market and emerging risks that organizations need to be cognizant of.

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Key takeaways

Market experiencing increased competition

Both the US and UK markets are seeing increased competition as new market capacity outweighs demand. This should lead to either a continuation of D&O rate decreases or a market stabilization in 2023.

Heightened regulatory environment

There is increased scrutiny from both federal entities and consumer protection groups and state-level regulators, among others. Key regulations, including ESG-related ones, will likely affect company directors in the coming years.

Evolving shareholder activism landscape

There has been an uptick of shareholder activism, especially related to ESG matters. As the landscape evolves, there could be more significant challenges to board seats.

About our speakers

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Kerri Petri

Growth Leader, FINPRO

Kerri Petri is the growth leader for Marsh’s Financial and Professional Practice (FINPRO) and also co-leads FINPRO’s Life Science Center of Excellence. Located in Marsh’s Boston office, her field of expertise includes: directors and officers liability, errors and omissions, cyber, fiduciary liability, employment practices liability, kidnap and ransom, crime, employed lawyers, general liability, automobile liability, workers' compensation and employers’ liability, as well as excess liability insurance.

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Bryan Berkman

Placement Leader, FINPRO Practice

Based in New York, Bryan Berkman is a managing director and head of placement within the FINPRO Practice in the US. He is responsible for Marsh’s FINPRO trading relationships with all partner insurers across all lines of coverage. He and his team provide clients with risk transfer solutions, including strategic planning, program design, and structure and coverage analysis.

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Stephanie Pestorich Manson

Head of Management Liability

Stephanie Manson leads the management liability team in Marsh’s FINPRO Practice in London. In this role she leads a team of over 100 management liability specialists and has a broad overview of all segments of D&O, EPL, PTL, and commercial crime insurance placed in the UK. She advises boards of directors and risk managers on D&O market issues and the ever-changing legal and regulatory developments in management liability.

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Matt McLellan

D&O Product Leader

As Marsh’s D&O Product Leader, Matt McLellan is responsible for developing and implementing Marsh’s strategy with respect to its D&O offerings and the creation and delivery of D&O thought leadership. As a client advisor, Matt specializes in renewal strategies and negotiations, and advises on policy language and endorsements.

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