The number of filings in most trend categories is on pace to decline in 2024, except for AI and COVID-19-related filings, which are on pace to increase, the report finds.
“We find it a little surprising to see as much competition as we do in the public space, knowing that there’s the old inventory of claims and there’s a new inventory continuing to build. It’s a little bit of a surprise to me to see the market as competitive as it is.”
Emerging economic, regulatory, and cultural trends pose complex risks for private company directors and officers in the post-pandemic landscape, according to Munich Re.
“Cyber is a huge topic in our industry and the world these days. Even Warren Buffett recently mentioned it as one of his ongoing fears in managing his businesses, especially his insurance business.”
Despite strong underwriting results in 2023, Fitch Ratings reports that the U.S. D&O insurance market faces declining premiums and emerging litigation risks.
Health and safety risks top the list for global directors and officers, surpassing cyberattacks and data loss, according to survey from WTW, Clyde & Co.
Corporate fraud cases are on the rise, requiring more vigilance and internal controls before misdeeds cause a crisis, warns a report by Arthur J. Gallagher & Co.
Facing increased competition and regulatory pressures, the U.S. D&O insurers receive a negative outlook with declining premiums and rising legal expenses.
Aon’s Timothy Fletcher counts loyalty as a primary value in assessing his professional relationships. He said his relationship with Aon is built on that foundation.
“Shareholder litigation is driving about 85% plus of the losses in the D&O world. It can also hit what we call E&O, on the financial institution side.”
A recent surge in book banning should have public libraries reviewing risk management and insurance practices with their brokers and other insurance personnel.