When considering management and professional liability, companies today face threats that are growing more complex and intertwined, says Dan Fortin, president of QBE North America’s Financial Lines business. “Tracking them requires constant vigilance,” he says. “We’ve seen alarming growth in cyber risk, event-driven litigation, derivative litigation, COVID-19 issues, regulatory issues and ESG concerns. They require increasingly sophisticated levels of expertise to understand and address.” 

In response, QBE’s Financial Lines business, a repeat winner of IBA’s 5-Star Award for professional liability, has a highly experienced team of professionals with deep knowledge of key industry segments, including financial services, professional services and media. The team is fully integrated, with the underwriting, product development and claims teams all part of the same management structure. 

“This structure helps us work seamlessly as a team to better identify and mitigate emerging risks through updated insurance products and best practices to minimize or avoid loss,” Fortin says. For instance, this teamwork facilitated the development of specialized coverages to address the recent boom in special purpose acquisition companies (SPACs). It also helps walking companies through different loss scenarios to build a better understanding of risk and how the insurance policy will react.

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