Around 40,000 Directors and Officers insurance (D&O) policies have been written in a market of over 200,000 potential insureds, according to Patrick Drinan, European D&O manager, ACE European Group.

Drinan, speaking at the Insurance Times, Making Money from SMEs conference, said there were growth constraints that prevented infiltration, including D&O's niche product perceptions.

Drinan sound however that it could always be sold to SMEs in two ways:

  • Through brokers who can explain the product to their clients
  • By provision for underwriters who understand the SME segment and who can customise their business model accordingly.

    Drinan concluded that "people, service and price will be the key differentiators."

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