European boutique Managing General Agent (MGA), Alta Signa Europe B.V. has announced that its Italian operation, Alta Signa Italy, has successfully launched into writing primary directors’ and officers’ (D&O) insurance.
Alta Signa Italy is addressing demand for tailored primary D&O insurance for SMEs in the €50-500 million revenue range across sectors.
Moreover, this expanded underwriting approach complements Alta Signa Italy’s existing excess lines insurance proposition in the local market.
“There is a gap in the primary Italian D&O market for an insurance proposition backed by local expertise and service, offering tailor-made quotes. In a market geared towards facilities and automatic quoting systems, speaking with local Tier 1 and Tier 2 brokers revealed strong demand for non-standard solutions from a proactive and responsive provider,” said Alta Signa Branch Manager, Italy, Marina Chierici.
“I’m really pleased to be able to provide this offering, which, backed by our in-house claims team, brings the highly efficient and individualised service that we know Italian regional brokers are looking for.”
Meanwhile, Praedicat, a liability emerging risk analytics company recently announced a collaboration with Experian, to deliver a new company and portfolio analysis tool for underwriters D&O insurance cover for US publicly traded companies.
Furthermore, earlier this year, Beazley also announced the launch of a new D&O insurance product tailored specifically for crypto companies.
Additionally, according to a report released by AM Best earlier this year, 2021 was the best year for D&O insurers’ premium, volume and direct profitability since 2014, with insurers’ push for moderate to substantial rate/pricing increases fuelling the top line premium growth.
