Market Conditions and Rate Predictions
Key Takeaways
Rate Outlook:
Underwriting Focus Areas:
AI deployment: accuracy, transparency, and misrepresentation risks.
Internal control structures and claims governance.
ESG posture, particularly where investment policies are politically exposed.
In the UK there is a focus on exposure to Authorised Push Payment Fraud and what prevention measures are in place to mitigate this, following the introduction of new mandatory rules in October 2024.
Also in the UK, the results of the Supreme Court decision on Motor Finance are awaited, how far reaching this will be and likely cost of the redress scheme.
Market Competitiveness
GB Blended
Rate
Primary:
–5% to –10%
Excess:
North America:
Primary Professional Liability:
0% to –10%
Excess Professional Liability:
Crime
Flat
New entrants are increasing competition across both lines and geographies.
Primary lead options remain available from multiple insurers, though clients are advised to assess not only terms but also claims-handling consistency and responsiveness.
Insurers are deploying significant cyber capacity, including up to USD/GBP 75 million via the CyXS Facility.
Commentary: Premium relief is available—but underwriters are raising the bar for control environment disclosures, especially around digital platforms and AI use.
