For several years, the D&O market has been challenged by legal woes, greater competition amongst insurers, and increased claims. The marketplace today is a much different environment than before and is presenting new challenges to insurers, brokers and insured who must stay abreast of emerging risks.
In a recent report from Allianz Global Corporate & Specialty (AGCS), the company notes experiencing a double-digit rise in D&O claims in the past five years. Beyond the number of claims trending upwards, their severity also is rising significantly in markets around the world, with some sources recording loss ratios above 100% in the U.K., U.S., and Germany since 2017. Among the many drivers pushing D&O claims forward, AGCS points to five major trends that will impact D&O insurance in the coming months, which can be viewed in the above slideshow.
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