Can you be sure...
...that your current broker will secure the most favourable terms
Soft markets do not require skill or depth of relationships; underwriters are hungry for premium, with many risks placed under 'combined' facilities. These maximised brokers' earnings but many no longer underwrite D&O. Protean Risk D&O specialists always use the 'open market', so they have the market knowledge and relationships to make a difference.
...that your renewal will be managed by specialists rather than generalists?
With Protean Risk you can - from the outset you’ll be dealing with a senior team that specialise in D&O. They have experience helping AIM listed and publicly traded companies overcome challenging renewal issues - and access to Nathan Sewell gives you one of the leading market specialists on your team. Helping to ensure a successful D&O insurance outcome.
…that your risk will be properly presented to the right insurers?
Protean Risk take the time to understand your risk; to consider different options; to prepare a compelling presentation; and have individual discussions with senior underwriters that are more likely to have an appetite for your business. It often takes a specialist to see the options, and that is what makes us stand out.
He is supported by an experienced team
Get a genuinely fresh perspective of your D&O renewal
FIVE POINT D&O RENEWAL CHECKLIST
Don't start the renewal process too late
Your broker should really be contacting you at least 90 days before renewal and considering the renewal strategy. Starting later could put you at a disadvantage.
Find out your current underwriter’s appetite
You need to understand your current insurer's likely stance. Will they be offering renewal terms? What terms are being applied to business similar to yours (size, sector, risk profile)? What can you expect?
Obtain your renewal terms as early as possible
Many insurers have withdrawn from the market, others are seeking 400% increases or more. Understand what your existing insurers are proposing as early as possible, so that you have time to negotiate and explore other options.
Be prepared for changes to cover and excesses
Many companies are experiencing limitations to their cover and/or larger policy excesses. Employment Practices Liability is one example of an area coming under pressure, with insurers fearful of an avalanche of post-covid claims.
Excess of loss more challenging and expensive
Many insurers have reduced their capacity and are offering lower indemnity limits. It is normal to top-up your cover with excess of loss insurance and this used to be relatively inexpensive. However, that is not the case now and this is where a specialist broker can make a difference.
Download article: finding opportunites in a challenging D&O market
Case studies

D&O case study: mind the gap
Helping auctioneer fill excess of loss insurance gaps. Read more...

D&O case study: hospitality firm
Even in this difficult market we were able to find a solution for D&O and POSI Read more...

D&O case study: we can't find insurance!
How we found D&O cover for medical technology firm that was unable to get insured elsewhere Read more...

D&O case study: eight days to expiry of policy extension...help!
Helping a data company find insurance, after existing insurer exited this class of insurance. Read more...