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Claims trends in D&O liability worsen: Best

Claims trends in D&O liability worsen: Best

Claims trends in directors and officers liability worsened last year, but the pricing environment “has yet to catch up,” says A.M. Best Co. in a report issued Thursday.

Premiums remained relatively flat between 2017 and 2016 at $6.4 billion, but the year-end direct loss and defense and cost containment ratio rose to 77.2% from 65.6%, said the report by Oldwick, New Jersey-based Best. The 11.6-point deterioration was the worst experienced by the U.S. property/casualty industry in that measure since 2011, said the report.

“The main driver of the worsening claims frequency trend is the increase in Federal Securities Class Action litigation,” said the report, which cites the record 412 such lawsuits filed in 2017, according to the Stanford Law School Securities Class Action Clearinghouse in Stanford, California.

The average price per million of D&O liability insurance fell 9.2% for 2017’s fourth quarter, compared with the same period last year, according to an Aon Risk Solutions survey issued in March.






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