NU Online News Service, June 23, 3:52 p.m. EDT

Companies in the United Kingdom, particularly those traded in the United States, are buying huge amounts of insurance coverage as increasing class actions target their management, a survey of risk managers has found.

The poll, by the London-based Association of Insurance and Risk Managers and the New York-headquartered Advisen Ltd. market data analytics firm, found about 25 percent of firms responding said they bought ?100 million ($163 million) or more directors and officers liability coverage.

In its report Advisen said the survey put chemical, natural resources and pharmaceutical companies on top with the highest estimated average annual D&O premium (?13.2 million, or $21.6 million), but that figure was skewed significantly by one company that paid a very large premium.

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