Chubb has enhanced its Directors & Officers and Entity Securities Liability as well as its Fiduciary Liability primary insurance offerings. These improvements are designed to help companies confronted with a range of management liability risks and reinforces Chubb’s commitment to providing solutions that address a myriad of exposures that could potentially impact a company’s bottom… Continue reading Chubb Enhances D&O and Fiduciary Insurance Offerings to Address Changing Liability Exposures
Tag: D&O insurance
Average Renewal Rates Continue to Increase Year Over Year Across Most Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the Q3 2020 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Q3 results showed an increase in premium renewal rate change average across nearly all major commercial lines of business, including Commercial Auto, Business Owner’s Policy, General Liability, Umbrella, and Commercial Property compared… Continue reading Average Renewal Rates Continue to Increase Year Over Year Across Most Major Commercial Lines
Third-Quarter Insurance Composite Rate Increase at 6.25%
At the close of the third quarter 2020, insurance buyers were assessed rate increases on every line of coverage and industry class. Richard Kerr, CEO and Founder of MarketScout, profiled the current market environment by pointing out, “The composite rate is up 6.25 percent for the third quarter 2020 as compared to up 4.8 percent… Continue reading Third-Quarter Insurance Composite Rate Increase at 6.25%
U.S. D&O Insurers Brace for Pandemic-Related Losses
Underwriting losses are expected to continue over the near term for the U.S. directors & officers (D&O) liability insurance segment as claims amid the economic fallout from the pandemic emerge, which will take several years to fully pay out, Fitch Ratings says. However, there is limited risk to ratings of individual insurers from the D&O… Continue reading U.S. D&O Insurers Brace for Pandemic-Related Losses
D&O Insurance Renewal Trends in 2020: COVID-19 and Other Factors
The COVID-19 pandemic has created unprecedented challenges for policyholders renewing all lines of property and casualty insurance. Directors and Officers Liability (D&O) renewals were already difficult at the start of the year, as the market has been hardening since 2018 due to an increase in claim frequency and severity. These developments have caused insurance carriers… Continue reading D&O Insurance Renewal Trends in 2020: COVID-19 and Other Factors
D&O Insurance Costs Rising for Cannabis Execs as Investors Sue
Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and misinformation, with more such action expected. Some of the biggest cannabis companies, including Medmen Enterprises, Canopy Growth, CannTrust Holdings, Aphria Inc and… Continue reading D&O Insurance Costs Rising for Cannabis Execs as Investors Sue
Musk Gets Almost $1 Million from Tesla to Temporarily Insure Board
Tesla Inc. is making a one-time payment of almost $1 million to Chief Executive Officer Elon Musk related to a controversial insurance arrangement he agreed to with the carmaker’s board earlier this year. The company is backtracking from plans to let Musk personally provide directors’ and officers’ insurance coverage for a year, as it disclosed… Continue reading Musk Gets Almost $1 Million from Tesla to Temporarily Insure Board
Insurers Fret as Directors & Officers Face Coronavirus Legal Claims
Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses, industry sources say. Two cases have been filed in the United States in recent weeks accusing companies of making misleading statements about the coronavirus or their coronavirus plans… Continue reading Insurers Fret as Directors & Officers Face Coronavirus Legal Claims
U.S. Commercial Insurance Prices Accelerate Again, As Carriers Report Changes of Over 6%
U.S. commercial insurance prices accelerated during the fourth quarter of 2019, as the aggregate price change reported by carriers exceeded 6%, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS). This is a continuation of the acceleration observed in recent quarters. The survey compared prices charged on policies underwritten during the fourth quarter… Continue reading U.S. Commercial Insurance Prices Accelerate Again, As Carriers Report Changes of Over 6%
Expanding Risk Exposures Present D&O Insurers with Significant New Challenges: AM Best
The profitability of directors and officers (D&O) insurance underwriting is likely to remain under pressure in the near term, due to factors that include multiple years of inadequate pricing and widening risk exposures, according to a new AM Best market segment report. The Best’s Market Segment Report, titled, “Expanding Risk Exposures Present D&O Insurers with… Continue reading Expanding Risk Exposures Present D&O Insurers with Significant New Challenges: AM Best