As someone who has in the past expressed interest in our technology practice, we wanted to alert you to the technology section of our Informed Insurance Predictions for 2023, where we are – for example – in the professional liability part (#10) forecasting an increase in Tech E&O claims as a result of the increasingly challenging business environment.

Our well-established Tech E&O practice has been experiencing this trend before. For example during the 2007/08 financial crisis and its aftermath; while the Tech E&O market was at the time far less well established, it nevertheless resulted in a considerable upturn in claims as customers sought to renegotiate prices for technology projects, or tried to get out of contracts for solutions that were no longer required altogether, by reference to delays or performance issues.

Our predictions also span many other technology related topics, from cyber and data risk to aviation, D&O and motor.

If you would like to discuss any of the issues touched upon in our predictions, please do not hesitate to get in touch.