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Goodwin Lawyers See “Hardening” D&O Insurance Market

D&O insurance is becoming increasingly challenging to purchase and maintain, write lawyers from Goodwin in a recent client memorandum. Public companies are facing higher costs for insurance premiums and deductibles and some insurers are cutting back on the number of companies they insure. The lawyers write that insurers attribute the rising prices to an increased number of claims, higher settlement values, and increased litigation costs. Along with higher premium costs “in some cases double (or even higher) than previous premiums” some insurers are choosing not to renew policies for certain companies. The lawyers advise entities to plan any D&O insurance renewal or insurance purchase well in advance to “allow companies sufficient time to engage with their insurance brokers and coverage counsel, who can provide feedback on current market conditions, including projected pricing.”

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