D&O: One Reinsurers Drink, Anothers Poison
With its business representing just 1 percent of the reinsurance market for directors and officers liability, Hamilton, Bermuda-based Trenwick Groups recent announcement that it non-renewed most of its U.S. D&O liability business may not have shaken too many primary insurers that write that coverage or other related specialties.
But a general contraction of the reinsurance market for such business–that began in January and continued at July 1–might be having a broader impact, experts say. "I wouldnt be surprised if we see more [reinsurance] markets pull out" next year, said Sean Whelan, managing director of Guy Carpenter & Company in New York.
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