Directors’ & officers’ (D&O) and fiduciary insurance coverage continue to be a sore spot for risk managers, according to the new Risk and Insurance Management Society (RIMS) Benchmark Survey. For the first time, the survey is delivering virtually real-time results with first-quarter 2003 data already available. Those results show that D&O and fiduciary covers remain difficult and expensive to get for commercial insurance buyers. The survey shows variance amongst lines of business, although verifies the overall hard market conditions risk managers have given anecdotal evidence of leading up to the survey’s release. “We’re seeing real verified evidence of the hard market risk managers have been encountering for the past few years, and the emergence of an apparently moderating price environment for some lines,” says Christopher Mandel, president of RIMS. Risk managers are having a hard time placing business, taking more time in negotiations, and paying more for coverage. The survey also confirms that risk managers have increased retentions over the past two years as a response to these hard market conditions. At the same time, despite premium increases, scarce capacity and tighter terms, average limits remain virtually flat. “This suggests a continuing need for substantial risk transfer despite the rapidly rising costs,” states a RIMS release. RIMS partnered with Advisen Ltd. in creating the new online version of the survey.