The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients. Removing the guesswork empowers CRC team members to negotiate competitively, consistently producing better outcomes, better deliverables, and better results.
PRIVATE D&O REDY® INDEX - April 2023
MONTHLY RENEWAL PRICING ANALYSIS | Primary and Excess
PRIVATE D&O EMERGING ISSUES
- There continues to be new market entrants into this space.
- Difficult private D&O classes include companies with nuanced risk profiles including those in healthcare, life sciences, real estate-related businesses, cannabis, crypto, fintech, autonomus/EV driving, NFTs, technology, mid to-late stage biotech, startups with limited capital and unicorns (privately held startup companies valued at over $1 billion).
- Underwriters remain concerned with an insured’s financial well-being and debt position, so interim financials may still be requested. Underwriters will continue to stay on top of ESG, supply chain, and COVID issues.
- As more private companies become the target of SPACs, such transactions present unique and first impression issues for D&O insurance program structuring, wording, and coverage. It’s important to discuss these issues with CRC Group if your private company insured becomes a target of a SPAC.
- Private D&O underwriters are also affected by the fiduciary liability and EPLI market, which are often combined with Private D&O. Private D&O carriers have been impacted by excessive fee litigation on the fiduciary liability line; and return to work issues and increase claims on EPLI line.