A buyer's market continues for directors and officers liability insurance, with double-digit price declines now possible for financial institutions and non-financial firms alike, and carriers unveiling new forms and endorsements including long-sought coverage for regulatory investigations.
The increasingly favorable environment for D&O insurance buyers comes as research firms report escalating numbers of securities lawsuit filings, with a high proportion coming from government enforcers of securities laws, such as the U.S. Securities and Exchange Commission.
In July, just a day after the SEC announced a $500 million settlement with Goldman Sachs, New York-based Advisen reported its second-quarter 2010 tally of securities lawsuits, revealing a 19 percent jump over a very active second quarter in 2009. The 256-suit total for second-quarter 2010 was also 30 percent higher than the 197 suits reported for first-quarter 2010, when Advisen attributed a short-lived downward trend in securities suit filings to a steep decline in credit-crisis claims.
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