Tag: D&O Insurance

Nikola D&O liability insurance problems are holding up settlements

Julie Campbell
Liability insurance - Law

The zero-emission vehicle maker intends to resolve claims, but its insurers aren’t budging with approvals. Nikola Corp, the electric and hydrogen fuel cell vehicle company, is resorting to a Delaware court with claims that its directors and officers (D&O) liability insurance companies are getting in the way of settlement proposals from being completed in the Court of Chancery, the District of Delaware, and the District of Arizona. The automaker filed a complaint in the Complex Commercial Litigation Division of the Delaware Superior Court. In Nikola Corp’s suit, it said that…

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Allianz points to D&O business liability insurance advantages in tough 2024

H. Cutner
D&O Business liability insurance Form - 2024

The insurer predicts that there will be a spectrum of challenges worldwide that will boost coverage importance. According to a recent report issued by Allianz Commercial with regards to Directors and Officers (D&O) business liability insurance, there are so many challenges occurring worldwide that it is unlikely that the market’s soft conditions will be able to continue. Some of the largest threats to this type of coverage are expected to worsen as 2024 gets going. The authors of the Allianz Commercial 2024 D&O Insurance Report predicted that professional lines would…

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Towers Watson survey shows prices for commercial insurance continued their rise during Q4 2011

Julie Campbell

According to the results of the most recent Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS), the prices for commercial insurance increased by a total of 3 percent throughout the final quarter last year, which completed a year in which every quarter saw rising prices for all lines of standard commercial products. Furthermore, according to the report by the global professional services company, earned price increases are starting to compensate for the portions of the reported claim cost inflation levels. Data from CLIPS showed that, yet again, the commercial property…

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Chubb Adds Protection for Cyber and Other Crimes to Its Private Company Program

Guest Author

WARREN, NJ, December 5, 2011 — To help protect private companies from an increasing number of cyber and other crimes, the Chubb Group of Insurance Companies has added insurance coverages and risk management services to its ForeFront Portfolio 3.0SM program. “The frequency and severity of cyber breaches, employee thefts, kidnappings and workplace violence incidents are growing concerns for many companies and their employees,” said Lisa Jones, vice president for private business management liability products for Chubb. “Private companies remain vulnerable to these potentially disruptive and expensive criminal incidents if they…

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Financial crisis leads to greater errors and omissions claims in real estate

The errors and omissions liability coverage sector is starting to feel the pinch in the real estate industry as a result of the financial crisis. Trends and developments impact the purchasers of the different kinds of specialty insurance products, such as errors and omissions, D&O, cyber risk, employment practices liability, surplus, marine, and transportation lines. Firms for diversified financial services and banking that have advised their customers to make investments into high risk subprime mortgages or credit default swaps are now experiencing significant claims, and – according to Phil Norton…

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Eco-friendly construction increases professional liability risks

Nordstrom

Insurers and risk managers are facing all new challenges in developing coverage for errors and omissions (E&O) for eco-friendly construction projects, which are similar, but still quite different from the risks associated with typical construction projects. This has lead to new trends and developments which are affecting purchasers for specialty lines of insurance such as E&O, directors and officers (D&O), cyber risk, employment practices liability, transportation, marine, and surplus. The reason for the difference between “green” and standard construction project risks is in the materials and technologies that are used,…

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The Beazley Group branches out into crime insurance market

Marc

The Beazley Group, a specialist risk insurance and reinsurance company, has announced that they will be expanding into the fidelity and crime insurance market. The insurer is striving to strengthen its presence in this particular market in the U.S. Aiming to broaden the scope of buyer choice within the market, Beazley has assembled a team they believe is capable of driving their aim. The group will establish limits of $25 million for coverage for both financial and non-profit organizations. Bill Jennings, among the most experienced underwriters available, has signed on…

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