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The use of exclusions could leave the personal assets of directors at risk in the event of legal action. -
New data from Aon on D&O pricing in Q1 shows continued acceleration of rate increases.That said, we still see the true story as more balanced, with excess pricing changes distorting headline figures.
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Global pricing for financial business risks rose by 26 percent in the quarter, according to the broker’s survey.
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Tesla says it has not renewed D&O cover for the 2019-20 policy period because of the cost of premiums.
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The case is likely the first over alleged misrepresentations to investors about the virus.
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Rate hikes imposed on three large corporate accounts had a major impact on the broker’s quarterly index.
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However, there's more to re-underwriting an excess book than price alone.
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The Hollywood mogul is said to have reached a settlement for the civil cases filed against him.
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The rate rises followed a slew of high profile class actions and derivative lawsuits against US public firms.
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The class action comes amid concerns over an uptick in environmental-related D&O claims.
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Sources said the new clauses would limit future opioid-related claims.
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Fitch said AIG’s reduction in appetite has exerted a “strong influence” on the class of liability business.
