Keyword
D&O
Why this insurer is ‘shrinking’ its D&O liability business
October 26, 2018 by Greg MeckbachLawsuits arising from corporate mergers and acquisitions and “creative theories of liability” are reducing Chubb Limited’s appetite to insure directors’ and officers’ liability. Since 2016, there has been an increase in the frequency of lawsuits against directors and officers, said…
Intact to offer new D&O products for commercial brokers in Canada
March 29, 2018 by Greg MeckbachBrokers placing directors and officers (D&O) liability insurance can expect “more new products” this spring from Intact Insurance, given the company’s acquisition of OneBeacon Insurance Group Ltd. in September 2017, an official said Monday. Speaking during Intact’s Investor Day, Mike…
Should insurers even be writing D&O coverage for sexual misconduct claims?
February 25, 2018 by David GambrillWhy are insurers writing D&O coverage for allegations involving sexual misconduct, which is not really an “accident,” but rather an intentional act that is typically excluded from coverage? The question came up last Thursday at a PLUS Canada event in…
Cyber line expected to be one of the leading P&C growth areas in the U.S. over the next few years: A.M. Best
June 23, 2017 by Canadian UnderwriterThe cyber line of business is expected to be one of the leading growth areas within the property and casualty space in the United States, with cyber coverages estimated to increase between US$7.5 billion to US$20 billion by 2020, a…
New York cyber rules could raise loss exposures for U.S. insurers: Fitch
February 15, 2017 by Canadian UnderwriterThe implementation of the New York Department of Financial Services’ (NYDFS) new cybersecurity regulations has the potential to underscore premium growth in cybersecurity insurance and directors and officers (D&O) insurance, but could also raise loss potential for insurers, Fitch Ratings…
Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS
November 28, 2016 by Canadian UnderwriterNew and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing…
New RSA D&O coverage includes multiple reinstatements, pollution clean-up
September 12, 2016 Greg Meckbach, Associate EditorRSA Canada announced Monday a new directors’ and officers’ liability insurance product that sits on top of a D&O tower, is intended for the use of the individual directors and officers only and covers the cost of pollution clean-up orders.…
Pen Underwriting Canada’s e-traded D&O solution offers brokers fast quote-to-cover capability
July 22, 2016 by Canadian UnderwriterPen Underwriting Canada’s newly launched e-trading platform allows brokers to quote and issue a policy within five minutes that provides directors and officers a broad range of D&O coverage to suit the fast-evolving risks and liabilities they face. Calling the…
Corporate investigations on the rise, study suggests
May 24, 2016 by Canadian UnderwriterCorporate investigations are on the rise, with over a quarter (27%) of businesses saying they have experienced a claim or investigation involving a director of their company in the past year, up from one in five in 2014. That was…
Supreme Court of Canada will not hear appeal of disputed $15-million D&O liability claim from Onex
April 18, 2016 by Canadian UnderwriterFor the second time in 18 months, the Supreme Court of Canada has declined to hear an appeal of a verdict of an Ontario lawsuit arising from a disputed US$15-million directors’ and officers’ liability claim arising from an unjust enrichment…
U.S. D&O insurance pricing pressure to dampen performance: Fitch
April 13, 2016 by Canadian UnderwriterMarket conditions are evolving in the directors’ and officers’ (D&O) liability insurance market in the United States, with merger and acquisition activity in 2015 facilitating greater market concentration, according to a new report from Fitch Ratings. The report, titled U.S.…
Oppression remedy lawsuit against corporate directors reaches Supreme Court of Canada
April 10, 2016 by Canadian UnderwriterThe Supreme Court of Canada announced Thursday it will hear an appeal of a lawsuit in which two corporate directors were ordered to pay more than $600,000 to a former chief executive officer who brought an oppression remedy action under…