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The risk retention series:
How much risk should professional service firms retain?

Aon’s Professional Services Practice share a series of articles exploring risk retention to help professional service firms navigate a hardening insurance market.

For the majority of the past 15 years, there has been a buyer’s market for commercial insurance. We are now experiencing a shift. Firms across all industries are facing a firming marketplace for risk transfer, including increasing premiums, decreasing capacity, narrowing of terms and conditions and increasing self-insured retentions or deductibles (although retentions and deductibles are often used inter-changeably, they are different - in general, deductibles are considered within the applicable policy limits, whereas self-insured retentions apply before a policy limit is breached).

Professional service firms are among the industries impacted by this shift. This series will help your organization navigate the hardening insurance market.

Professional liability insurance remains the largest single insurance premium expenditure for professional service firms. Throughout this series, our experts will share their insights and guidance in navigating this volatile professional liability marketplace, alongside other lines of coverage.

The series will present articles on the retention of risk by professional service firms. The series will discuss the determination of the “right” self-insured retention and the possible use of captives. A deeper actuarial review will be presented in the fall.

The upcoming articles will center on insurance market conditions for 2021, making them a real-time guide for insurance negotiations and analysis.

David Christensen


Aon’s Professional Services Practice values your feedback. If you have any comments or questions, please contact David L. Christensen or Connor Galvin.

David L. Christensen
Managing Director
New York

Connor Galvin

Connor Galvin
Vice President and Director