New risks and heightened concerns for businesses seeking financial lines insurance

Employment practices and growing concern around potential issues of staff working from home, along with factors surrounding employment disputes such as religious beliefs are new factors for consideration against a background of caution in relation to directors and officer’s liability insurance cover.

Solvency and class actions top the lists of insurer concerns and smart organisations are working closely with their brokers to devise a strategic approach to risk minimisation and planning ahead of seeking insurance renewals.
 

Key trends

• Fast developing risk conditions present a challenge for insurers
• Being able to demonstrate robust risk management policies is vital to negotiating insurance cover
• A strategic – potentially multi-insurer – approach is needed to find the optimal solutions

National Head of Financial Lines Michael Herron
Leading the Gallagher Financial Lines team in Australia with expertise and in demand services supporting a C suite client portfolio, Michael is skilled in negotiating with insurance providers to get the right policy for his clients, especially for new or emerging risks.

 Access and read the financial lines article in full: page 6 in the latest Business Insurance & Risk Market update compiled by our experts and industry sector specialists. 
 

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