Q| You've served in various capacities in management liability and professional lines underwriting areas for more than 25 years. How has this line evolved in that time in terms of exposures, and what are some of the greatest exposures that executives need to be insured against these days?
The pace of change has been remarkable; 60% of the economy is represented by the service sector. Further still, so much of the “new” economy is information based and revolves around data, the derivation and dissemination of content. “Services” and “service” providers are not only proliferating at an exponential pace but their business models are entirely transformed because their services are increasingly delivered by technology.
The convergence of the traditional errors & exposures of service providers and their technological enablement–including content dissemination, media liability, technology errors & omissions, privacy violations, network security breaches and intellectual property rights disputes coupled with the rapid and long term secular growth trends in these sectors of the economy amplifies existing risks and creates new exposures.
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