Side A D&O – snips from October’s Report

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

 

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