Professional Liability (E&O) Market

The professional liability insurance market, including errors & omissions (E&O), directors & officers (D&O) and employment practices liability (EPL) insurance, is undergoing the same level of competitive turmoil has other segments of the insurance market.  In fact, some segments of the professional liability market are seeing greater reductions in pricing and broader coverage expansions than most of the property casualty insurance market. 

However, professional liability has been segmented into those classes impacted by the credit market crisis and all others.  Classes, and even specific accounts, which might be impacted by credit problems, particularly subprime lending, are seeing much tougher underwriting, including rate increases and reduced coverage.  These classes can include:

• Banks & related financial institutions
• Investment organizations
• Mortgage bankers & brokers
• Title & escrow agents
• Real estate agents & appraisers

A recent article in Business Insurance describes the professional liability market conditions and some of the challenges underwriters are facing (see here).

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Comments

[arizona term life insurance]

Interesting to read about rate reductions. In the personal auto and home market we are hearing rate increases. This soft market is about to change from what I've read.