Summary
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The D&O insurance market for private and public companies
has been challenging for some time. Premiums and deductibles have
been increasing sharply and businesses in some sectors have been
unable to obtain adequate coverage or renew their policies at any
price. COVID-19 has intensified these challenges.
D&O insurers are currently scrutinizing company
financials and future prospects, leaving far less room for insureds
to negotiate policy terms than in the past. At the same time,
independent directors may want greater D&O protection,
especially where operations are impacted by the pandemic.
How are D&O policies structured?
D&O insurance generally comprises Side A, B and C
coverage:
