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REPORT

The D&O Insurance Wave: Staying Above Water

Historical under-pricing of D&O insurance, combined with the advent of class actions, has led to a rapid hardening of the Australian D&O market.

Corporate Australia is feeling the brunt of the reduced availability and affordability of D&O insurance.  Companies and directors are faced with the difficult decision to potentially reduce limits or remove components of D&O cover. In this environment, the challenge for companies is in finding the right balance between the mounting cost of insurance and having the right level and mix of protection. 

It should also be considered that these impacts are not limited to ASX companies alone; non-listed Small and Medium-sized Enterprises (SME’s) as well as charities are all equally impacted as insurers look to ‘remediate’ their entire D&O portfolios.

In this briefing, Marsh’s Financial and Professional Services Practice (FINPRO) examines the realities of a modern day director and the prospects for the D&O market, and explores how organisations can navigate the hard market. 

The D&O Insurance Wave: Staying Above Water

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“Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”