The US professional lines market is entering a period of transformation, according to Amwins, which highlighted that “a clear distinction is being made between wholesale and retail strategies” and also suggested the D&O market may soon stabilise.
D&O
Global D&O pricing has continued to soften throughout 2024, Allianz Commercial has said, with London market wholesale carriers pushing up competition in overseas markets.
K2-owned Aegis General Insurance has launched a new US private company management liability program led by former Scale Underwriting executive Jeff Hirsch that will offer D&O, EPL and fiduciary liability coverage,
The average price per million for US public D&O insurance fell by 11.1 percent year on year in Q3 2024, the 10th consecutive quarter of decreases and a notable acceleration from the 5.2 percent reduction recorded in Q2, new data from Aon shows.
Aventum-owned specialty MGA Rokstone has doubled its directors and officers line size to £10mn ($13mn).
The increasing range and volatility of employer risks driven by shifting workplace cultures and issues around inclusion and sustainability will prompt an uptick in D&O and employment practices liability cover, a new report by Beazley has found.
Distinguished Programs has expanded its partnership with Berkley Program Specialists to underwrite its community associations crime and D&O products.
The US D&O segment continued to generate favourable statutory results in the first half of this year, despite written and earned premium declining in a softening market, Fitch Ratings has commented.
US public D&O rates are expected to continue to fall amid a highly competitive market with underwriters remaining aggressive, although some stabilisation may be seen for mature accounts, according to reports from brokers Lockton and Hub.
The US D&O market remains soft but the pace of premium declines for both newly public and mature companies has slowed, according to a new report from Woodruff Sawyer, which also showed that there were 41 settlements in H1 2024 worth a cumulative $2.1bn.
Alongside parametric covers becoming more prominent for weather and natural catastrophe risks, new parametric products have also been launched to address challenges in the cyber and D&O markets.
Health and safety has climbed to the top of WTW’s Global Directors' and Officers' Survey, displacing cyber as the risk the C-suite considers to be the most crucial to plan for.
The soft market in D&O space is reaching an inflection point, according to the CRC Group’s COO of commercial solutions.
Aon has unveiled its D&O Risk Analyzer, with the offering aimed at enabling risk managers and brokers to better assess executive risks and tailor “more impactful” insurance programs, according to the firm.
A securities class action lawsuit has been filed against CrowdStrike in response to the drop in its share price after updates to its system caused a global outage.
