Tough Risks Get Tougher
I also think it’s important to touch on habitational, public D&O, certain healthcare lines, construction—these round out the lines that are driving more volume into the non-admitted channel.
As you move upstream, into larger companies with thousands of employees who handle sensitive customer data, it becomes more challenging to put together a significant limit for risk transfer. You read about these seven- and eight-figure cyber breach claims that are impacting the industry every day, now. So it is new, it is a creative part of the business and part of these losses are unknown. It’s written on a claims made basis, as opposed to an occurrence basis, for that reason, and our industry will continue to be challenged on innovation here.