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D&O claims are getting bigger, but competition is keeping rates low

Excess capacity leads to counterintuitive pricing and brokers can find untapped opportunity as carriers battle for business.

By Michael P. Voelker | Updated on November 16, 2015

Seventeen billion — that’s “billion” with a “B” — is a number that’s difficult to truly comprehend.

In 2014, that’s the amount Bank of America agreed to pay in response to a government investigation into the design of the bank’s mortgage-backed securities and its purchases of Merrill Lynch & Co. and Countrywide Financial Corp., making it the largest civil settlement in U.S. history. (The second-largest settlement last year was Citigroup’s $7 billion deal that also centered on mortgage-backed securities.)

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