Just posted our October review of Side A D&O Liability insurance products and market. This coverage provides protection over and above that included in standard D&O policies, and protects board members against the risk that certain claims under the D&O policy won’t be paid.
Here are a few of the things we found this year:
- More carriers – we increased coverage to 20 carriers, adding W.R. Berkley, Endurance, Hudson, and Old Republic
- Soft-ish rates – plenty of competition means carriers can’t easily raise rates, despite potentially rising claims from the Great Recession and innovative coverage disputes in the D&O market
- BUT – we think there might be a small upward tick in rates as those claims are recognized, perhaps later in 2011
- New policy forms from established Side A carriers as insurers fine tune coverage
- No sign yet that our expectations for growth in the large private company and not-for-profit (universities and health care systems) are being realized, but its early yet