SL Policyholders Gifted Court, Underwriting Wins in 2024

Insurance Industry Team Co-Chair Thomas Bentz was quoted in a Law360 article highlighting the current specialty line policyholder landscape at the conclusion of 2024. He explained how pricing is stabilizing and policy terms are improving thanks to calmer cyber insurance markets and better underwriting processes post-pandemic. He also said insurers are creating products that are better addressing developing challenges, such as social engineering fraud, while insureds are more aware of their risks and have developed more comprehensive training and protections. Mr. Bentz additionally discussed how an increase in lawsuits over data breach notices is shedding light on the current risks, leading policyholders to implement improved management processes.

"I think that what we all want is stability and predictability so that we know how much we want to allocate toward insurance premiums and how much we want to allocate toward doing the business of our business," he said. "And so as it becomes more stable in pricing and in coverage and in expectations, I think everybody wins."

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