Take Out Entity Coverage: Insurers International Editor
The directors and officers marketplace has seen a tremendous upheaval as insurers have pulled out of the marketplace or significantly reduced their writings, while rates have risen and terms have tightened. But there are some signs that new capacity is returning to the market.
Rates and retentions, which had gone below profitable benchmarks, are now starting to approach profitable benchmarks indicating a substantial correction in the marketplace, said Brian Houghlin, vice president of the D&O underwriting group Allianz Insurance Company in Chicago. Allianz has moved into the U.S. D&O market for large public companies.
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