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Published on January 13, 2025
12-minute video
As we reflect on 2024, Sal Pollaro, Executive Underwriting Officer for Professional Liability at Markel Specialty shared valuable insights on the professional liability market during his recent appearance on The Insurer TV.
Watch the video to learn more about his perspectives on the industry and what's ahead for the market in the coming year.
Key insights:
Navigating 2024 shift's
From evolving reserve developments to muted capital markets, this year brought challenges that reshaped priorities.
Rising costs shake the industry
Defense costs surged ahead of inflation, creating hurdles for insurers to stay ahead with pricing. Adjusting to this new reality remains a priority as we head into 2025.
Opportunities on the horizon
Cyber insurance is rapidly growing, particularly with AI-driven risks, and M&A activity offers new possibilities.
Investing in people
Attracting and developing talent is front and center for Markel. Through university programs, career changes, and engaging with younger professionals, the future of insurance is brighter than ever.
Advice for the next generation
Sal’s words of wisdom: Be humble, stay curious, and never underestimate the power of building personal relationships. It’s these human connections that fuel the insurance industry.
Watch the full interview above to gain a deeper understanding of the trends shaping the future of professional liability insurance.
