Seventy-two percent of respondents to a recent survey on D&O claims issues answered yes to the question, "Have you been involved in an actual claim where the D&O insurer paid more than you believe it needed to, based upon the facts and coverage issues?"
Given a 60-40 split of insurer and policyholder respondents to the survey overall, the 72 percent result indicates that both policyholders and carriers have encountered overpayment situations.
The result was reported without any discussion during a session of the Professional Liability Underwriting Society D&O Symposium, where panelists focused their attention on broker activities and underpayments due to restrictive language. (See related article for details.)
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