Companies Are Paying a Lot More to Insure Their Directors and Officers - WSJ

[marindependent]

Companies Are Paying a Lot More to Insure Their Directors and Officers
"Driving the increases in rates is the rise in shareholder litigation, both in the number of cases and size of jury awards and settlements"

Great article from the Wall Street Journal- you probably need an account to read. Here is a snippet:

"Driving the increases is the rise in shareholder litigation, both in the number of cases and size of jury awards and settlements, brokers said. Another connected factor is the growth of litigation-finance firms, which invest in corporate legal disputes...."
and
"In the U.S., premium rates for directors-and-officers insurance jumped 44% to 104% in the first quarter compared with the year-earlier period, based on different indexes of corporations that are published by brokerage firms at AON PLC and Marsh & McLennan Cos . The average increase for D&O insurance in Australia was 225% for the first quarter of 2020, Marsh data shows."

 

[Markthebroker]

We just had a helluva time quoting a d&o policy...

 

[Scott Ashton]

That sums up what I've been seeing. Now Geico preloads carsalespersons gift cards when your client goes to buy a car they get "funneled" for pay. What small agency can compete? And this is where a few cancellations add up over time. The agent now has to make a decision whether to illegally "slide" a supplemental product to the customer so that they can "pay-off" the salesperson who called you. Or find another line of work. Bidding wars are now upwards of $100 per deal now. Thank you crooked Tallahassee & that goes for the fat Geico lobbyist who helped pass this new law. More news to come....

 

[Markthebroker]

That sums up what I've been seeing. Now Geico preloads carsalespersons gift cards when your client goes to buy a car they get "funneled" for pay. What small agency can compete? And this is where a few cancellations add up over time. The agent now has to make a decision whether to illegally "slide" a supplemental product to the customer so that they can "pay-off" the salesperson who called you. Or find another line of work. Bidding wars are now upwards of $100 per deal now. Thank you crooked Tallahassee & that goes for the fat Geico lobbyist who helped pass this new law. More news to come....

I hear you, but comparing D&O sales to what Geico does is a bit like comparing helicopter sales to bicycle sales.

 

[Allen Trent]

That sums up what I've been seeing. Now Geico preloads carsalespersons gift cards when your client goes to buy a car they get "funneled" for pay. What small agency can compete? And this is where a few cancellations add up over time. The agent now has to make a decision whether to illegally "slide" a supplemental product to the customer so that they can "pay-off" the salesperson who called you. Or find another line of work. Bidding wars are now upwards of $100 per deal now. Thank you crooked Tallahassee & that goes for the fat Geico lobbyist who helped pass this new law. More news to come....

this post reminds me of reading a facebook post about sad news of a death of someone & then a commenter spammer throws in some completely unrelated item on how to make up to $7,500 per month working from home