The frequency of directors & officers claims appears to be trending down, but the severity of those claims is on the rise, said an executive with Aon during a teleconference presentation on the subject.
The executives, speaking during the conference titled "D&O Exposures in a Climate of Increasing Corporate Governance and Litigation," yesterday discussed the current insurance and litigation climate and touched on what risk managers can do to improve their risk profile when buying insurance.
Mike Rice, managing director of Aon Financial Services, said D&O claims have shown declining trends since passage of the Uniform Standards Act in 1998. Between 2002 and 2005, claims have dropped to about 180--similar to the level of the 1990's. Whether the down trend will continue, however, is open to speculation.
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