D&O (Directors and Officers)
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Market sources report an uptick in competition to secure accounts as clients sought optimum deals in a challenging market.
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The continued expansion comes amid tough competition for talent in the hard D&O marketplace.
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The broker said that the carrier’s decision had forced some clients to rebuild policies from scratch.
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Market sources said that ongoing economic disruption is likely to keep pricing in the market high. -
The law firm said underinsurance was common in the sector, despite rising risks.
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Insider Hannah Tindal will move from Chicago to London to take the role of D&O head within the London regional unit and Nordic team.
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Conditions remain favourable for underwriters but uncertainty remains on whether the recession will lead to a flood of claims.
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The appointments follow Axa XL’s exit from management liability business in London last year.
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The start-up makes its first appointment directly from Hiscox, where Inigo founder Richard Watson worked as CUO.
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The management liability market underwent huge hardening last year as major carriers withdrew.
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The appointment confirms the carrier’s prospective involvement in the rapidly hardening market.
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The return to the office and perceived slow business recovery could also lead to claims.
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