The price for Directors and Officers insurance experienced thefirst year-over-year quarterly increase since the credit crisis,according to broker Aon's Financial Services Group.

A quarterly pricing report from the executive liability divisionof Aon says 2012 fourth-quarter D&O prices increased 9.9percent over the same period in 2011.

Looking specifically at programs that renewed in the fourthquarter in 2012 and 2011, price increased 3.2 percent.

This comparison is the best indication of pricing trends sinceD&O policies are typically written for a 12-month period.

But the report also includes a consecutive quarter-over-quartercomparison. The average price per $1 million of D&O coverageduring the 2012 fourth quarter increased 20.5 percent compared tothe prior quarter, says Aon.

Throughout the year, the number of companies receiving a pricedecrease for D&O coverage at the primary layer steadilydeclined—from 38 percent in the 2012 first quarter to 11 percent inthe fourth quarter.

“The carriers that are not pursuing rate increases on a primarybasis are in the minority,” says the report from Aon.

More than three-quarters of companies faced an increase in pricein the 2012 fourth quarter, compared to 27 percent during the firstthree months of the year.

Aon points out that 94 percent of all primary placements renewedwith the same carrier.

“The average [price] change for those primary policies thatremained with the same carrier was 7.7 percent,” Aon reports.

Aon also observes that clients bought 3.7 percent more limits inthe 2012 fourth quarter, compared to the same time the yearbefore—and deductibles for 16.8 percent of D&O programsincreased during the fourth quarter.

“The decision to take the higher deductible in [2012 fourthquarter] appears to have been a mechanism to mitigate what wouldhave otherwise likely been a more significant premiumincrease.”