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Brazil's insurance regulator to include payment of fines in D&O coverage

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Brazil's insurance regulator Nov. 20 plans to apply new rules in the directors and officers insurance segment, such as inclusion of payments of fines, BNamericas reported citing Valor Economico. Currently, the D&O coverage includes costs related to legal defense and the freezing of assets. Flavio Sa, financial lines managers at AIG Seguros Brasil S.A., said that coverage of fines poses a considerable risk to insurers and could lead to an increase in premiums. Directors and officers insurance premiums grew 5% year over year to $78.4 million in the first nine months.

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