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TMCNet:  A.M. BestTV: Directors and Officers Market Stands Up to Surge in Securities Litigation

[February 15, 2017]

A.M. BestTV: Directors and Officers Market Stands Up to Surge in Securities Litigation

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 divisio of R-T Specialty, LLC.

Recent episodes of A.M.BestTV include:

  • Former AIG Chief Executive Officer Greenberg: I'm Disappointed in the New York Attorney General's Press: In a wide-ranging briefing, Maurice R. Greenberg, former head of American International Group, Inc. and current head of C.V. Starr & Co., lashes out at a statement by the New York Attorney General that Greenberg admitted to participating in accounting fraud: http://www.ambest.com/v.asp?v=settlement217.
  • Insurers' Economic Environment Exhibits Hopeful Signs and Host of Warnings: A.M. Best's Meg Mulry and Ann Modica review trends in interest rates, taxation, fiscal policy, labor markets and international trade relations that are shaping the economic environment for insurers in 2017: http://www.ambest.com/v.asp?v=usoutlook217.
  • Insurance-Linked Securities Draw New Sponsors, Address New Risks: Attendees at the Artemis Insurance-Linked Securities New York City conference said, a growing range of insurers are placing risk with capital markets. Meanwhile, technologists and investors are identifying new risks that can be covered via capital market solutions: http://www.ambest.com/v.asp?v=ils217.
  • Insurers See Opportunity In Reset of Trade Deals: Insurers say the scrapping of the Trans-Pacific Partnership (TPP) trade deal and the renegotiating of the North American Free Trade Agreement (NAFTA) could mean more individualized arrangements between countries, but also warn they are cautious about maintaining access to markets: http://www.ambest.com/v.asp?v=tpp217.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

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