PROFESSIONAL LIABILITY UPDATES
MARKET CONDITIONS
Remains stable with some soft areas.
Abundant capacity that can help limit the impact of large settlement rewards.
CYBER & PRIVACY LIABILITY
Risks continue to rise, with cybercriminals sending over 3 billion phishing emails daily.
As these threats increase, the demand for Cyber Insurance should rise as well, which may lead to higher pricing.
“One of the more interesting sectors in Professional Liability is in the Cyber space. Cyber is experiencing growth as the adoption by clients in the market increases.”
Andy Wood Vice President National Professional Liability Practice Leader Burns & Wilcox, Chicago, IL
OTHER KEY TRENDS FOR 2025:
Architects & Engineers
Growing with carriers showing interest in expanding their portfolios.
Pricing trends, though, continue to be determined.
Healthcare
Long-term care, foster care, and related facilities are facing the growing exposure of molestation and abuse claims.
Some states mandate Sexual Abuse and Molestation coverage for specific businesses.
Management Liability
Stable and soft for now. Pockets of hardness in California.
