OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, insurers at the PLUS Directors and Officers (D&O) Liability Symposium in New York City said they saw the highest number of securities-related lawsuits in 2016 since the financial crisis, and added that the market remains soft with competitive prices and plentiful availability. Click on http://www.ambest.com/v.asp?v=plus217 to view the entire program.
“It is a growing marketplace, but a competitive one,” said Dan Auslander, senior vice president, V3 Insurance Partners. “There are certainly a number of carriers out there in this space. It is an area that has grown over the past 10 to 15 years, continues to grow and continues to create opportunities, for clients to address their risks and carriers to provide product.”
Brenda Shelly, managing director, Marsh, said the soft market is not showing signs of a turnaround. “The D&O market has been soft for many years and it continues to be soft, particularly in the commercial space. There are pockets of tension, like in the private company space and the non-profit space because of the breadth of coverage. It is still a buyer’s market.”
Laura Coppola, regional head of management liability commercial North America, Allianz Global Corporate & Specialty, spotlighted the level of litigation the D&O industry experienced in 2016. “The industry finished 2016 with one of the highest levels of securities class actions filed in the United States, since the post-credit crisis era. It remains to be seen whether the levels seen in 2016 remain throughout 2017.”
To view full coverage of this symposium please, visit http://www.ambest.tv.
Other people that appear in this episode:
- Kevin La Croix, attorney and executive vice president, RT ProExec, a division of R-T Specialty, LLC.
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