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Aon PLC’s clients saw a 16.8% increase in the average price per million for their directors and officers liability policies in the fourth quarter, according to a report released Monday.
However, the price per million for clients that renewed in both 2021 and 2020’s fourth quarter decreased 1.1%, according to the report.
The overall price increase for primary policies renewing with the same limit and deductible was 3.7%, the report said.
The pricing index includes all limits purchased by publicly traded companies during the quarter, and changes in clients renewing during the quarter, changes in limits purchased, or a shift in the mix of limits between ABC limits and Side-A only limits can affect the index’s overall performance, according to the report.
For the fourth quarter, 11% of primary policies received a price decrease, 15% renewed flat and 74% of companies received a price increase, the report said.
A total of 94.4% primary policies renewed with the same limit; 85.6% renewed with the same deductible, 80% renewed with the same limit and deductible, and 96.3% renewed with the same insurer.
Observers have said that D&O liability insurance rates have stabilized after several years of increased rates, and anticipate that rates overall will remain relatively flat for at least the first half of the year, after which there may be reductions.
Directors and officers liability insurance rates have stabilized after several years of increased rates.