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MPR Update – February 2020

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  • MPR Update – February 2020

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MPR Underwriting Updates

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    ML Renewals: 2020 vision

     
    The pace of change in the ML market has quickened as we have moved into 2020. Prices continue to increase, sometimes dramatically, but cover changes, whilst less obvious, can be highly impactful.

    ML Renewals: 2020 Vision - Top 5 tips

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    PI: Industry pressures and underperformance have resulted in capacity reduction and a hardening of the PI market. The case for solid analysis and judgemental flexibility in the underwriting process has never been more important. It’s tough out there – here are some strategies that may help – Top 5 tips on Navigating the PI market.

    Cyber: according to the government’s cyber security breaches survey 2019, the most common cause of cyber security incidents last year were phishing emails. This is also the key gateway into BEC (Business Email Compromise) – something that is driving nearly half of the cyber matters seen by our incident response services. The main aim of BEC is to access and manipulate payment instructions, but with email inboxes potentially containing a huge amount of information, it is also common for personally identifiable information to be accessed and extracted. We have a wealth of information available at MPR to help our brokers and assist the sales process on our Cyber product page.


    Three new Insights and a new Insights page design:
    We continue to produce Insights based on common themes discussed with brokers and have produced three more. We have also taken the opportunity to simplify the Insights page for ease of reference and navigation. We hope you like what we’ve done.

     

     
     
    INSIGHT
    Any One Claim & D&O: Much Ado About Nothing?
    As Shakespeare conveyed in Hamlet, “There is nothing good or bad, only thinking makes it so.” No event or occurrence is truly good or bad, they are based on our cognitive processing and pre-suppositions.
    READ MORE
     
     
     
     
    INSIGHT
    D&O and PI Exclusions: Professionally Served
    The ubiquity with which the professional services exclusion (“PSE”) appears on D&O policies might suggest a consistent and easily communicated position. Sadly, this is far from the case. Despite this being the most regularly applied discretionary exclusion, inconsistency exists around its purpose, construction and impact.
    READ MORE
     
     
     
     
    INSIGHT
    Cyber-Crime: Lights, Camera, Distraction
    At the 2003 BAFTA awards, Christopher Walken won ‘Best Supporting Actor’ for his portrayal of the father of American fraudster, Frank Abagnale Jnr. Frank Jnr. perpetrated his first fraud scheme at the age of 15 and went on to commit a 6 year, $2.5m fraud spree until his arrest in 1969 at the age of 21.
    READ MORE
     
     
     
    VIEW ALL INSIGHTS
     

     
    Our Products
    We now have over 20 products at MPR and are evolving our offerings in response to our broker partners ideas. Our aim across all of these is straightforward. That is to provide a top quality product, backed up by first class credentials and accessible experts.
    VIEW ALL PRODUCTS
    Our Policies include:

    • Directors & Officers Liability
    • Management Risks package policies
    • Cyber Liability
    • Employment Practices Liability
    • Pension Liability
    • Pension Wind Up Liability
    • Charity and Not for Profit Liability
    • Professional Indemnity and Media Liability
    • Public Offering or Prospectus Liability
    • Financial Institutions Insurance
    • Crime and Cyber Crime Insurance
     

     
    For more information about our products and service please get in touch.
    CONTACT US
     

     
    MPR logo

    10th Floor, Chancery Place, 50 Brown Street, Manchester M2 2JG

    0161 241 3550

    enquiries@mprunderwriting.com

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    Tim Jones

    Written by

    Tim Jones

    Insight

    Cyber Insurance – a ‘Potential’ Difference

    Discussions about cyber insurance policy cover and sales techniques have intensified recently, but the narrative can be high level and lacking in any real-life context.

    News

    Podcast: A look at MGAs

    MPR feature on a podcast looking at the role of MGAs within the Insurance industry.

    News

    A new signing for MPR
    Magnus McGurk

    Latest news, market updates and product information from MPR.

    10th Floor
    Chancery Place
    50 Brown Street
    Manchester
    M2 2JG

    0161 241 3550
    enquiries@mprunderwriting.com

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    MPR are Chartered Insurance Underwriting Agents

    MPR Underwriting Limited is a company incorporated in England and Wales. Registered Address: 10th Floor, Chancery Place, 50 Brown Street, Manchester, M2 2JG. Company Number: 10529758. Authorised and regulated by the Financial Conduct Authority.

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