Professional liability insurance is a vibrant, interesting, and growing segment of the property-casualty insurance market. If membership growth of the Professional Liability Underwriting Society (PLUS) is any indication, the market has exploded in the last 20 years. PLUS membership, which numbered roughly 1,000 in 1993, is now close to 7,000. According to SNL Financial LLC, medical malpractice and D&O total premiums approach $16 billion, excluding other professional liability lines such as employment practices, non-medical E&O (including cyber liability), and fiduciary liability. Almost one-fourth of PLUS members are agents and brokers, most of whom are heavily involved in the professional liability arena.
Directors and Officers (D&O)
Kevin Ishizu, senior vice president and national practice leader, public D&O insurance for Wells Fargo Insurance Services, oversees a portfolio of clients ranging from IPOs to Fortune 500 companies. He said public company D&O insurance continues to be a “buyer's market,” due to relatively low securities class action frequency, a high rate of dismissals and an abundance of capacity.
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