Which insurance specialty should brokers target?

Chris Budge
“Financial lines insurance – particularly directors & officers insurance – is a technical and specialized insurance class with an outsized profile, given the vested interests of those being protected. Little corporate risk-taking would take place in the absence of D&O insurance.

For a decade or more, an oversupply of capacity and an apparent willingness by certain insurers to incur rolling years of losses has resulted in a multi-year soft market. Right now there is a real opportunity for brokers with strong financial lines teams who can advocate effectively on behalf on their clients to differentiate themselves from those who don’t.”

Mamie Bell
“Cyber liability insurance is a must-have for businesses today.

Insurance that protects you in case of a cyberattack might seem like something only large businesses would ever need or could afford, but cyber liability insurance makes a lot of sense for small companies, considering the havoc hackers can create and the damage they can do. An attack could cost a small business their life savings or put them out of business.

Cybercrime is one of the fastestgrowing crimes in the world; however, it’s not covered by commercial liability or crime insurance policies, and unfortunately, everyone online is a target.”

Michael Sillat
“The specialty sector, by definition, is a class that’s difficult to evaluate and offer terms on. We think offering solutions for the entire sector is imperative to brokers.

Within the specialty sector, we believe solutions for some of the casualty issues surrounding real estate – be it construction-related or lessors risk – are a growing challenge. We have tackled these two classes head-on by developing a differentiated approach to underwriting these risks profitably through the development of cutting-edge proprietary technology, data analytics and a unique claims handling model. We are very excited about this holistic model.”