Our Insurance Risk & Response Index for Q2 2023 is here.
This report analyzes the insurance buying patterns of startups each quarter. Taken from proprietary, internal data, the report offers an analysis of the purchasing decisions and trends for three significant policies: Directors and Officers, Employment Practices Liability, and Technology Errors and Omissions.
Sneak Peek at Q2 2023 Risk & response Index
This quarter, we initially saw a settling period from March’s post-SVB spike, followed by a gradual, unseasonal increase in shopped policies across the board to close it out.
The data reveals that when shopping for coverage, founders are still seeking higher limits on Directors and Officers (D&O) insurance. The number of companies seeking $3 million coverage limits increased from 12% in April to 21% in June. As companies grow or if they anticipate a riskier business environment, they will opt for higher limits – sometimes up to $5 million – to minimize losses or liability.
As another unprecedented banking failure rocked Silicon Valley and beyond, the startup community responded with risk transfer, still unsettled by what seemed to be an unstable financial environment.
After the frenzy of the SVB collapse…