D&O insurance News

How Coronavirus Could Further Stress an Already-Stressed D&O Insurance Market

Players should expect the directors and officers insurance market to “undergo radical changes” based on 2019 results and the “unprecedented turbulence” created by the COVID-19 pandemic, according to an A.M. Best report. A.M. Best expects that the efforts to address …

D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment

Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best concluded in a new report. “We …

Profitability Returning to D&O Liability as Rate Hikes Take Hold: Fitch

After being down, the U.S. directors and officers (D&O) liability insurance sector is looking up. Carriers are raising rates and restoring profitability, according to Fitch Ratings, after several years of flat premium growth and less favorable claims trends in a …

Nexus Acquires D&O and Financial Institutions MGA Apsley Specialty

Independent specialty managing general agent Nexus Group announced it has completed the acquisition of Apsley Specialty Ltd., a registered Lloyd’s coverholder. Financial details of the transaction were not disclosed. Established in 2012, Apsley Specialty is a London-based specialist directors & …

Oklahoma Emergency Care Provider Will Take Insurer to Court over Legal Fees

An emergency medical care provider in Oklahoma has authorized its attorneys to take a liability insurance company to court if needed to force the business to pay a claim aimed at covering legal costs. Emergency Medical Services Authority has a …

D&O Liability Insurance Could Feel Effects of New York’s Cyber Regulation

While the full implications of the New York State Department of Financial Services’ (DFS) cybersecurity regulation, which went into effect March 1, are still being realized by the insurance industry, many are beginning to question the regulation’s impact to directors …

UK Insurers Call for Collective Action to Address Climate Change

Lloyd’s of London and other UK insurers called for collective action to address climate change on Thursday, after a report from the UK regulator this week highlighted risks to their industry from global warming. In an open letter to Bank …

Travelers Adds Broad Form Plus+ to D&O Liability Portfolio

Travelers has added Broad Form Plus+ to its portfolio of directors and officers (D&O) coverages as a way to protect against concerns above and beyond corporate liabilities. While many companies typically provide protection to their directors and officers for defense …

Beazley, Hiscox Form D&O Consortium with Capacity up to $50 Million

Lloyd’s of London insurers Beazley and Hiscox have partnered to offer brokers and clients a D&O consortium through which the syndicates will provide materially higher limits and offer additional options to complex risks for U.S.-domiciled companies. Central to the proposal …

Delaware Judge Weighs D&O Insurer’s Obligation in Oracle Settlement

Attorneys for Oracle Corp. are asking a Delaware judge to order an insurer to pay $20 million to cover attorney fees related to the proposed settlement of a shareholder lawsuit. The lawsuit challenged Oracle’s 2011 acquisition of Pillar Data Systems, …