The rapid move to remote working has given rise to new challenges for professionals and the way they conduct their work in the COVID-19 environment. In a recent article published in Insurance Day, Ian Bowler, SVP, Head of London Market Professional Indemnity, says, “The Professional Indemnity Market is braced for challenging times ahead, but there are also good reasons to be optimistic about the prospects for this market.”
Though he is clear that there is little doubt all professions face challenges because of the pandemic as well as BREXIT, he noted that Sompo International’s underwriting strategy remains consistent and based on years of experience and knowledge of the wider economy and of each individual profession.
Regarding what this all means for the future, he added, “As we look ahead, we are cautiously optimistic. Challenges create opportunities. The economy will recover. Businesses will continue to rely on professional advice. Our job now is to put our capacity to work and underwrite responsibly.”