D&O (Directors and Officers)

WTW’s survey cites regulatory risk, health and safety precautions and bribery and corruption on the list of top D&O risks.

The demise of the lender underlines concerns about global economic conditions and high interest rates.

D&O underwriters, as well as financial institution insurers supporting startups and venture capitalists, could have faced “financial distress” without government intervention.

Costs of defending and settling lawsuits are likely to fall on the bank’s D&O insurers.

The market has undergone substantial multi-year hardening after a surge of painful loss activity.

Reinsurance renewals were more orderly than feared and business plan resubmissions have a positive weighting.

The broker said that rates were falling but remained well above soft market levels.

The product launch comes soon after the MGA started a new professional indemnity binder.

There has been no let-up in rate reductions so far this year, as fears mount about the profitability of the class.

The market has quickly moved away from dramatic hardening in 2020 and 2021 following an influx of capacity.

Slowing primary pricing, the looming threat of inflation and increased cat retentions were key themes from this reporting round.

The business marks the latest launch into a financial lines market that has attracted substantial amounts of capacity.