A.M.BestTV: Energy Risks and Globalization Create New Directors & Officers Risk

OLDWICK, N.J.--()--This A.M.BestTV episode examines the recent Professional Liability Underwriting Society (PLUS) Directors & Officers (D&O) Symposium in New York where insurance executives stated that the D&O market is in a period of uncertainty caused by oil price volatility and new international exposures for corporations.

More than 1,100 professionals attended the annual symposium, where emerging risks, especially fluctuating prices for oil, were hot topics.

“Sub $50 per barrel prices are going to create challenges directly for hundreds, if not, thousands of companies,” said Dan Fortin, senior vice president at Berkshire Hathaway Specialty Insurance. “Already, there has been activity in the securities as well as the derivatives fronts and I expect more of it. How long this challenge will last depends on how long prices will remain at the sub $50 per barrel level.”

Another hot topic considered was the concern over global expansion.

“There have been many changes both in connection with the sophistication of the products offered and in terms of the liability exposures of D&O,” said Kevin LaCroix, executive vice president at RT ProExec. LaCroix said he believes that in “Singapore, Hong Kong, Mumbai, London as well as traditional European markets, growth has occurred in the D&O marketplace for these reasons.”

Other people who appear in this episode include:

  • Jim Skarzynski, chairman, Skarzynski Black; and,
  • Perry Granof, managing director, Granof International Group.

Click here to view the entire video program: http://www.ambest.com/v.asp?v=plus215.

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Contacts

A.M. Best Company, Inc.
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

A.M. Best Company, Inc.
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com