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Article: D&O: past, present and future.(directors' and officers' liability)
- Article from:
- Risk Management
- Article date:
- February 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 Risk Management Society Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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As we examine the directors' and officers' (D&O) industry today, a startling observation may be made: the clear majority of D&O underwriters, brokers and risk managers have no firsthand experience with a hard market. Why is this important or relevant? To see the importance, we need to look at the D&O "crisis" of the mid-1980s. For relevance, we need to look to the future and the potential effects of a hardening (less buyer-friendly) D&O marketplace on renewals.
A major market movement will have more influence on your D&O program pricing than any other factors, including such key items as your company's financial performance, risk management controls and loss ...