D&O (Directors and Officers)
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Plus, the latest people moves and all the top news of the week.
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Rates are bottoming out, but ample capacity is still preventing a hardening market.
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Worsening trading conditions in the D&O market are leading to staff cutbacks.
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A number of staff will be leaving the D&O team as a result of the restructuring.
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The move will impact around $50mn of gross written premiums in total.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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The broker has noted that double-digit reductions are increasingly available in property.
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The insurer denies it is responsible for the actor’s legal fees.
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Claims were concentrated in the US, with a significant increase in D&O class actions.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
Most Recent
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Coverys Ltd adds Littlemore and Farnworth to board
02 September 2025 -
Average annual insured property loss rises to $152bn: Verisk
02 September 2025 -
Short-tail reinsurance pricing to fall ~5% at 2026 renewal: S&P
02 September 2025 -
Reinsurance capital to grow 7% to $649bn in 2025: AM Best
02 September 2025 -
Moody’s Ratings pulls reinsurance sector outlook down to stable
02 September 2025