Thoughts About Specialty Insurance for 2011 – EPL

More thoughts about the New Year, this time EPLI (I have a head start on this one, as we just released EPLI Market Survey 2010 in late December):

  • We’ll be hearing a lot about wage and hour – from the insureds and their brokers.  Maybe not so much from the carriers (though I still think there is a need and an opportunity for coverage for the smaller market segments).  Will there be a carrier that takes a strong stand on affirmative coverage for wage and hour?
  • We know we’re swimming against the tide with this one (others that comment on the industry project a continuation of soft rates) – later in the year deductibles and possibly rates will drift up, as the carriers are forced into recognizing that claims from the Great Recession are a problem.
  • Insured’s will tolerate reasonable increases if they are explained and if they are properly counseled about the risks of switching carriers for a claims made policy.
  • Mass actions against larger employers will continue to get the headlines, but middle-market and smaller insureds will have more than their share of 6 figure claims.
  • Defense attorneys will get more and more concerned that their client relationships are being negatively impacted by the claims handling practices of the insurance companies used by their clients.
  • Finally, I’ll be speaking at the American Conference Institute EPLI Conference in late January – 16 years and counting.  Not exactly a prediction, as we are already working on our panel topics!  If you are there, please come up and say ‘hi.’

2 responses to “Thoughts About Specialty Insurance for 2011 – EPL

  1. Rick –

    Incisive comments as always. Look forward to seeing you at ACI.

    Jerry Maatman

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