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FOR IMMEDIATE RELEASE
OLDWICK - FEBRUARY 10, 2016 01:54 PM (EST)
This A.M.BestTV episode highlights the annual meeting of the Professional Liability Underwriting Society (PLUS) Directors and Officers (D&O) Symposium held in New York, NY, where attendees said coverage for D&O has been racing to keep up with widening liability and soaring costs as regulators, lawmakers and lawyers create new risk exposures. Click on http://www.ambest.com/v.asp?v=plus216 to view the entire program.
“D&O has been incredibly innovative over the years. It is an incredibly dynamic exposure that the industry covers,” said Steve Shappell, chief legal officer, JLT Specialty USA. “The size, frequency and nature of the allegations, as well as the various sources of the claims…..has caused D&O to evolve, I believe, beautifully over the years.”
Patrick G. Ryan, chairman and chief executive officer, Ryan Specialty Group, addressed the concerns the industry has about emerging risks.
“People in the industry don’t know enough about cyber risk, so they won’t write it, but I think the only way to learn is to do so. I encourage people to come together in a consortium, take a small bite and learn as you go….because cyber, as we all know, is going to be an ever-growing risk. It is everywhere, and the industry has to respond,” said Ryan.
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