UK Directors' & Officers' Insurance-Market Dynamics and Opportunities 2018 | Allianz, Marsh, Aon, Arthur J Gallagher, RSA, Aviva, Hiscox

UK Directors' & Officers' Insurance: Market Dynamics and Opportunities 2018

Summary

"UK Directors' & Officers' Insurance: Market Dynamics and Opportunities 2018", report provides an in-depth analysis of the UK D&O insurance market. It looks at market size and profitability as well as changes in premiums, claims, distribution, regulations, and opportunities. It provides a thorough overview of the market along with future forecasts.

Get Sample Copy at https://www.reportsweb.com/inquiry&RW00012570048/sample

The UK D&O insurance market finally started to turn in 2018. Premium rate rises are particularly in evidence in the large corporate sector, as claims frequency and severity have both increased. While pockets of highly competitive and profitable business remain, several major insurers have been burnt, and a more prudent pricing approach is emerging in the face of an ever-changing risk landscape.

Scope

- Penetration of D&O among SMEs continues to gradually increase. Publisher's 2018 UK SME Insurance Survey estimates that 18.7% of SMEs now have D&O, a figure that rises along with company size; around 50% of small and medium-sized companies now have this cover.
- As pressures have ratcheted up, the health of the UK's D&O book has significantly deteriorated over the last couple of years. In Q4 2018, insurers almost unanimously reported to Publisher an increase in claims over the last couple of years, particularly for larger public company risks. Many insurers stated that profitability on their D&O books has been marginal at best, with several major players losing money.

Reasons to buy

- Benchmark yourself against the rest of the market.
- Ensure you remain competitive as the market faces new challenges.
- Adapt your distribution strategy to ensure it is efficient and still meets customer purchasing behavior.

Make an Inquiry https://www.reportsweb.com/inquiry&RW00012570048/buying

Companies Mentioned:
Allianz
Marsh
Aon
Arthur J Gallagher
RSA
Aviva
Hiscox
Allianz
Markel
XL Catlin
Travelers
Jewel
AIG

Table of Contents:

1. EXECUTIVE SUMMARY
1.1. D&O market conditions are changing, as rising claims and a dynamic risk landscape impact the sector
1.2. Key findings
1.3. Critical success factors
2. MARKET DYNAMICS
2.1. Introduction
2.2. The number of companies with D&O cover continues to increase
2.2.1. Large corporates are the main holders of D&O insurance, while penetration among small and medium companies sits at around 50%
2.2.2. Penetration of D&O among SMEs is slowly growing
2.3. Premium rates started to rise in 2018, following a decade of soft market conditions
2.3.1. Market GWP has remained largely static in recent years due to high levels of price-based competition
2.3.2. The cycle turned at the start of 2018 and significant rate increases are being achieved, particularly on large corporate business
2.3.3. The D&O market is estimated to be worth £218m in 2018
2.4. D&O profitability has deteriorated, as the risk landscape continues to shift
2.4.1. Regulatory enforcement action has ratcheted up the pressure on D&O underwriting results
2.4.2. Claims frequency and severity are increasing, and profitability has taken a significant hit, particularly at the larger end of the market
2.4.3. Several high-profile cases have rocked the UK D&O market
2.4.4. The dynamic D&O risk landscape means that several recent legal changes are impacting claims experience
2.4.5. GDPR and cyber risks are a potential source of future claims
2.4.6. Acquisition costs are a continuing source of concern
2.5. Competition remains fierce, although caution is emerging
2.5.1. Competition is dominated by a small group of insurers
2.5.2. AXA is the market leader for SME D&O cover
2.5.3. Chubb and AXA are the preferred insurers for D&O placement among brokers
3. SME D&O BUYING BEHAVIORS
3.1. Introduction
3.2. While SME awareness of D&O cover is rising, cross-selling opportunities within cyber could further increase penetration
3.2.1. Awareness of D&O cover is increasing, aided by topical risks such as the GDPR, cyber threats, and health & safety
3.2.2. Insurers and brokers should take advantage of the cross-selling opportunities presented by cyber
3.3. Brokers remain the dominant distribution channel for D&O
3.3.1. SMEs require advice and recommendation before purchasing D&O
3.3.2. D&O is now offered by the vast majority of commercial brokers
3.3.3. PCWs play an increasingly important role in an SME’s first steps to buying D&O
3.3.4. Levels of true direct business remain very low
3.4. SMEs are comfortable purchasing D&O online, yet human interaction still plays an important role
3.4.1. The internet is the most popular platform for SMEs buying D&O
3.4.2. Human interaction plays an important role in the sales process, particularly for small and micro companies
3.5. Just under half of SMEs shopped around at last renewal - a figure that falls as company size increases
3.5.1. Just under half of SMEs shopped around at last D&O renewal
3.5.2. Levels of shopping around decrease with size
3.6. Add-on services are an increasingly important component of the overall D&O package
4. FUTURE
4.1. Introduction
4.2. The UK D&O market is forecast to grow at a faster rate to 2022
4.2.1. Rate increases are expected to continue over the next couple of years
4.2.2. Penetration of D&O among SMEs will continue gradually increasing
4.2.3. UK D&O GWP will show healthier growth to 2022
4.3. There are some potentially concerning indicators to watch out for in the D&O market
4.3.1. In the light of considerable economic uncertainties, insurers will be keeping a close eye on some key indicators
4.3.2. There are several additional areas that could impact the market in future
5. APPENDIX
5.1. Abbreviations and acronyms
5.2. Supplementary data
5.3. D&O Insurance
5.3.1. Side ABC cover
5.3.2. Standalone Side A policies can be bought as a complementary product to enhance cover
5.4. Definitions
5.4.1. SMEs
5.5. UK SME Insurance Survey
5.6. UK Commercial Broker Survey
5.7. Bibliography
5.8. Further reading

For More Information about This Report: https://www.reportsweb.com/reports/uk-directors-and-officers-insurance-market-dynamics-and-opportunities-2018

Contact Us:
Call: +1-646-491-9876
Email: sales@reportsweb.com

ReportsWeb.com is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost effective research reports and solutions from various publishers. We provide best in class customer service and our customer support team is always available to help you on your research queries.

Pune, India

This release was published on openPR.