The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 years ago, according to a new report released by executive headhunters Spencer Stuart. But thanks largely to stock grants some earned a lot… Continue reading U.S. Company Directors Compensated More than Ever, But Now Risk Backlash
Tag: D&O insurance
D&O Rates Improve As Carriers Push to Restore Profitability: Fitch Report
Premium pricing has improved significantly for directors and officers (D&O) liability in 2019 as carriers work to restore profitability, according to analysts at Fitch Ratings. Fitch noted that D&O liability business has seen several years of weaker performance, driven by flat premium growth and less favourable claims trends in a shifting tort environment. However, reductions… Continue reading D&O Rates Improve As Carriers Push to Restore Profitability: Fitch Report
CNA Launches Epack 3
CNA has launched Epack 3, its next generation modular management liability policy that combines clear, concise and easy-to-read language with a flexible policy structure. It is designed to be customized for a wide range of businesses and non-profit organizations. “The management liability business has grown unnecessarily complicated, so we decided to upgrade our modular platform… Continue reading CNA Launches Epack 3
Mnuchin, Lampert Want Sears’ D&O Insurance to Pay Legal Fees
Almost four months ago, the bankrupt estate of Sears Holdings Corp. sued Eddie Lampert and U.S. Treasury Secretary Steven Mnuchin over allegedly wrongful transfers of $2 billion in company assets. Now lawyers representing the two men have asked the federal judge overseeing the retailer’s Chapter 11 case to lift the bankruptcy stay so Sears insurance… Continue reading Mnuchin, Lampert Want Sears’ D&O Insurance to Pay Legal Fees
More Choice for IPO Lawsuits in U.S. Spur 200% Increase in D&O Insurance
Companies going public in the United States face insurance costs that have increased as much as 200% in the last three years to cover their executives against lawsuits alleging they misled investors. A rise in securities class-action cases involving initial public offerings is spurring IPO insurers to double and triple prices for directors and officers… Continue reading More Choice for IPO Lawsuits in U.S. Spur 200% Increase in D&O Insurance
Sears Sues Former CEO Lampert, Treasury Secretary Mnuchin and Others for Alleged ‘Thefts’ of Billions from Retailer
Sears on Thursday lodged a lawsuit against its former CEO Eddie Lampert and a string of its high-profile past board members, including his former Yale roommate Treasury Secretary Steven Mnuchin, for allegedly stealing billions of dollars from the once-storied retailer. Sears Holdings filed for bankruptcy this past October, after years of losses under Lampert, who… Continue reading Sears Sues Former CEO Lampert, Treasury Secretary Mnuchin and Others for Alleged ‘Thefts’ of Billions from Retailer
Lyft Investors Sue Over Slump, Claiming Overhyped IPO
Lyft Inc. was sued by investors who claim the ride-sharing company overstated its market position when it went public last month, leading to a dramatic plunge in its stock price. Two separate class-action complaints against Lyft, as well as its officers and directors and underwriters, were filed Wednesday in state court in the company’s hometown,… Continue reading Lyft Investors Sue Over Slump, Claiming Overhyped IPO
Foreign Firms Face Climbing D&O Insurance Premiums
Foreign companies listed in the U.S. are facing rising costs for insurance covering directors and officers, propelled by the increasing number of lawsuits. Known as D&O insurance, these policies protect board members and company leadership against personal liability for the decisions and actions they took performing those roles. The policies are often triggered by a… Continue reading Foreign Firms Face Climbing D&O Insurance Premiums
Willis Towers Watson to Showcase The Intelligent Frontier at RIMS 2019
Willis Towers Watson, a leading global advisory, broking and solutions company, has announced its program for the upcoming RIMS 2019 Annual Conference and Exhibition in Boston, Massachusetts, April 28 to May 1. The annual RIMS conference brings together thousands of risk management professionals and property & casualty insurance experts for educational networking and business opportunities.… Continue reading Willis Towers Watson to Showcase The Intelligent Frontier at RIMS 2019
Emerging Risks, Greater Complexity Challenge Directors and Officers Insurers: A.M. Best Report
Profitability in the U.S. directors and officers liability (D&O) insurance market remains pressured as claims trends continue to be unfavorable amid a pricing environment that has not kept up with increasingly complex risks, according to a new AM Best report. According to the Best’s Market Segment Report, “Emerging Risks and Greater Complexity Challenge D&O Insurers,”… Continue reading Emerging Risks, Greater Complexity Challenge Directors and Officers Insurers: A.M. Best Report