Pulse survey report: Insurance market conditions – January 2023

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Executive summary

1. The perception from members is that the insurance market is softening, although a significant number of respondents believe market conditions will continue to deteriorate in 2023.
2. The pace of increase in directors’ and officers’ liability insurance (D&O) premium rates is slowing.
3. Challenges in cyber continue with excessive demands for data and delays in delivering terms, often for too little cover at too much cost.
4. Airmic members would like to see greater willingness from the insurance market to engage with members on designing policy coverage to meet their needs.
5. Other challenges for members include global instability, market volatility, and the need for better understanding and support for ESG initiatives.