Tim Foody has been appointed executive lines practice leader at RPS, effective May 1.
Foody will lead a team that provides cyber, directors and officers (D&O) and errors and omissions (E&O)/professional liability risk solutions for RPS’ retail clients. He has 15 years of experience in the insurance industry. He previously served as an area senior vice president within RPS’ executive lines practice.
RPS recently released its 2025 Management and Professional Liability Market Outlook, which provides an overview of current market conditions.
According to the report, the management and professional liability insurance market is undergoing changes in 2025, driven by increased capacity and competitive pricing. New entrants are also reshaping the market, creating a buyer’s market with downward pressure on premiums across multiple sectors.
Competition is particularly strong in cyber, technology E&O and D&O coverage. Although the claims environment remains stable, the growing capacity is creating opportunities for new coverage solutions.
Other key points from the report include trends in private and public D&O as influenced by ample capacity and a slow IPO market, insights into the expanding cyber insurance market amid rising ransomware activity, and strategies for using wholesale broker relationships to secure coverage.
In a deeper look, the report said the executive lines market continues to favor insureds, with ample capacity maintaining downward pressure on premiums. Both private and public D&O markets see competition on most renewals. Increased capacity from tech-driven MGAs is also intensifying competition in the mid-market as they extend beyond smaller businesses.
In the cyber market, some carriers are returning to sectors they had exited, such as schools and manufacturing, though concerns remain over rising ransomware attacks and supply chain risks linked to vendor management. The A&E market is experiencing mostly flat renewals despite challenges in the claims environment.
