The covid-19 pandemic is putting major players in the professional indemnity space in the United states under pressure as they expect a sizable increase in claims as a result of the covid-19 pandemic. Even before the pandemic, the professional liability insurers were reporting varying degrees of market pressure, capacity limitations changing risk profiles and price increases. speaking recently Sridhar Manyem Director of industry research AM Best said that the covid-19 pandemic and the subsequent lockdowns, travel bans as well as event cancellations have put considerable added pressure on professional liability insurers.
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