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Directors and officers liability insurance pricing rose dramatically in the first quarter with the price per million for Aon PLC clients, increasing 73% when adjusted for certain items.
Items excluded were a large industrials sector client that was new to the index whose premium increased dramatically during the quarter because of claims activity, regulatory uncertainty and headlines risk, as well as two large initial public offerings during the quarter, according to Aon’s first-quarter 2020 D&O pricing index.
The price per million for clients that renewed in both the 2020 and 2019 first quarter increased 82.9%. All primary policies renewing with the same limit and deductible had a price increase, according to the report.
The overall price change for primary policies that renewed with the same limit and deductible was up 26.2%.
A total of 89.9% of primary policies renewed with the same limit, 56.6% renewed with the same deductible, 52.2% renewed with the same limit and deductible, and 94.2% renewed with the same insurer, according to the report.
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.