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Prices for directors and officers insurance, which covers people working as directors or officers of businesses or organizations, soared 70% in 3Q in 2019 compared with a year earlier, Aon says.
Source: Dow Jones | Published on January 21, 2020
The average increase was affected by three large companies – two in communications services and one in the consumer-discretionary industry – that faced large price increases due to claims. Excluding those three clients, pricing still rose 29% on average, Aon says.
Insurers have recently spoken about increased claims in casualty insurance due to more lawsuits being filed, including securities class action lawsuits, and larger damages being awarded.
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