2024 D&O Insurance Market Outlook

Industry data shows that most publicly traded companies experienced ongoing directors and officers liability (D&O) insurance rate increases from 2018-21; however, by the start of 2022, only one-third of such policyholders encountered rising premiums. This market moderation pressed on in 2023 as rates continued to soften. These improving conditions are likely the result of new market entrants and growing capacity for higher excess layers of coverage, which have fostered increasingly competitive market dynamics. Although the D&O segment also started to stabilize for private and nonprofit companies, these organizations are still deemed higher risk by carriers than their publicly traded counterparts. As such, industry data confirmed that rates for these policyholders have continued to increase, albeit at a slower pace than in prior years. Heading into 2024, industry experts anticipate that favorable market conditions will likely persist. Yet, policyholders operating in challenging industries or possessing poor loss history could remain susceptible to possible rate jumps and coverage difficulties.

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