WTW have published an update on the current Directors’ and Officers’ (‘D&O’) market situation. The update analyses WTW’s observations of the current market conditions for D&O insurance and the impact this has on board directors, non-executive directors and insurance buyers.
In overall terms 2022 has continued to see improvements in the GB D&O market, other highlights include:
- 37% of WTW clients saw their primary layer renew flat or with a discount in Q2 2022 and 69% saw their excess layers renew with a discount.
- By contrast, average rate online for SME businesses has seen increases in 2022, erasing the decreases seen in Q3 2021.
- In practice WTW brokers’ experience has been that underwriters are now finding it harder to obtain increases on SME business save for clients in specific industries or with adverse underwriting factors.
- More insurers are offering better policy terms including increasing numbers once again writing on WTW’s proprietary (DARCstar wording).
To read the full report click on the link above.