Pricing on directors and officers liability insurance is renewing lower than a year ago. (Photo: Thinkstock)

The insurance market underwriting cycle is turning unfavorable in many United States commercial market segments, including directors and officers (D&O) liability insurance, New York City-based Fitch Ratings says.

Premium rates in property lines have been declining for some time in response to a lack of large loss events. Fitch said it expects that competitive forces will likely drive prices lower in more casualty and liability lines, in part because of past underwriting success.

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