Keyword
D&O
Why D&O price cuts may not be justified
February 15, 2024 David GambrillSofter market conditions reported in some professional liability lines are premature and unjustified, a global reinsurer told September’s National Insurance Conference of Canada (NICC) in Montreal. The NICC reinsurance panel followed a presentation on the global economy by Swiss Re’s…
Forever chemicals: Is PFAS litigation coming to Canada?
September 19, 2023 by Alyssa DiSabatinoPer- and polyfluoroalkyl substances (PFAS) are the subject of a rising number of lawsuits in the U.S., and the industry can expect litigation to seep into Canada, says a risk professional. Also known as ‘forever chemicals,’ PFAS are a…
Why insurers worry about clients’ crime coverage
September 15, 2023 Alyssa Di SabatinoAs clients tighten their purse strings in anticipation of an economic downturn, they are increasingly underinsured for their crime-related losses. Crime insurers are seeing an uptick in social engineering (i.e., phishing) claims, says Katherine Gauthier, vice president of specialty solutions…
Where brokers can find opportunity in a softer D&O market
September 13, 2023 David GambrillAfter several years of a hard market, P&C industry executives report a plateau of price increases in directors and officers (D&O) lines. As fears of pandemic-fuelled losses fade, D&O lines are becoming more profitable and that’s leading to some increased…
Which coverages will lead brokers out of the hard market?
September 5, 2023 David GambrillFor several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines. Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines. “Now…
Ratings reports see pricing declines for two P&C coverages
June 15, 2023 Philip PoradoNew market entrants over the past year have helped ease price increases for two key property and casualty (P&C) insurance coverage segments in the U.S., according to a pair of recent reports from Fitch Ratings. Changes in the competitive landscape…
Why Canadian D&O insurers can breathe a sigh of relief
May 31, 2023 by Jason ContantD&O lawsuits claiming boards of directors breached their climate-related fiduciary responsibilities would likely not succeed in a Canadian court if the facts are similar to those in a recent U.K. court case, lawyers suggested in a Mondaq article Wednesday. Non-profit…
How hybrid work can increase broker E&O risk
May 31, 2023 David GambrillWorkplace flexibility, one feature of a hybrid workplace, has proven to be a selling point to attract younger brokers. But the hybrid office makes it difficult to supervise newly recruited brokers to make sure they’re doing things correctly, broker E&O…
Why D&O brokers are looking at risk mitigation
May 19, 2023 Philip PoradoAmid signs the recently easing directors and officers (D&O) coverage segment may gradually become a bit tougher, brokers and insurers will be taking a closer look at companies’ risk-mitigation procedures. When writing risks, Catherine Lanctot, senior vice president and national…
Don’t let clients cheap out on cyber coverage
May 10, 2023 Philip PoradoAs high-profile ransomware attacks continue to grab headlines, insurers providing directors and officers (D&O) coverage are concerned private company boards might not be managing cyber risk. “Are they allocating enough funds to cybersecurity? Are they going to have a lawsuit…
What financial uncertainty may mean for D&O claims
April 12, 2023 Philip PoradoPrivate companies, including not-for-profits, face rising legal and other exposures from lenders and private investors, customers and employees that can impact Directors & Officers (D&O) insurance policies. And, over the past three years, economic volatility has emerged as a key…
How underwriters are tackling cyber exposure in D&O policies
April 6, 2023 by Jason ContantUnderwriters are starting to address cyber exposure in directors and officers (D&O) policies, an insurtech told delegates at the NetDiligence Cyber Risk Summit in Toronto. “What we’re seeing is mandatory cybersecurity exposure questions on D&O submissions,” said Ben Davis, team…