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Directors and Officers Liability Insurance Market Update - 2018

09/18/2021

The insurance market in Australia for professional indemnity, directors and officers liability and financial institutions is more challenging than it has been in the past decade. Driven by an abundance of claims, the number of claims and reported circumstances are exceeding the total insurance market premium pool by a significant margin. Some leading insurers have struggled to adjust to the current market and economic conditions and are either seeking to mitigate their exposure via reduced capacity or elevating their attachment points. In some cases, insurers are electing to exit market segments altogether.

Notably, buyers that operate in sectors now deemed medium or high hazard are facing insurers exerting significant pressure for higher deductibles and premiums to be applied on both renewal and new business.

Directors and Officers Liability Insurance Market Update - 2018

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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.”