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Directors & officers liability insurance pricing continues to rise, with the price per million for Aon PLC clients increasing 17.1% in this year’s second quarter, compared with the same period a year ago, the brokerage said in a report issued Monday.
This compares with a 13.8% first-quarter increase and the 11.6% increase reported in fourth-quarter 2018.
The price per million for clients who renewed in both 2019 and 2018’s second quarter increased 9.1%, which was a slight decrease from the 9.4% reported in the first quarter.
Only 3% of primary policies renewing with the same limit and deductible had a price decrease, while 80% had a price increase, which compares with the 77% who reported price increases in the first quarter.
The overall price change for primary policies renewing with the same limit and deductible was up 6.8%, compared with 4.6% in the first quarter.
The report said 93.5% of primary policies renewed with the same limit, 70.6% renewed with the same deductible, 66% renewed with the same limit and deductible and 92.2% renewed with the same insurer.
The price per million of directors and officers liability insurance for Aon PLC clients increased 11.6% for the fourth quarter of 2018 compared with the same period a year ago, the brokerage said in a survey report issued Thursday.