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Brokers See More Work, Less Cover On D&O

Brokers See More Work, Less Cover On D&O No matter what line of insurance an agent turns to the story is the same: the only ...

By Mark E. Ruquet | Updated on December 09, 2001

Brokers See More Work, Less Cover On D&O

No matter what line of insurance an agent turns to the story is the same: the only thing certain about the future is that premiums are going up. The situation is no different for director and officers liability insurance.

Driving increases in D&O, say executives, are the combined factors of uncertainty over how much January reinsurance treaty renewals will increase and the growing number of claims against corporations as the economy flounders. Corporations are finding that merger investments are not turning out as well as they thought they would or accounting changes are causing restatements of earningsand either event can cause a complaint, one insurance executive said.

At the moment, one thing does not appear to be under discussion: agents commissions. The soft-market years, during which brokers requested and got increased commission rates, has not turned on itself with insurers asking brokers to take decreases in commissions, industry representatives say.

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