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Private D&O REDY® Index Q1 2024

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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 2024
MONTHLY RENEWAL PRICING ANALYSIS | PRIMARY AND EXCESS

PRIVATE D&O REDY INDEX October 2023 MONTHLY RENEWAL PRICING ANALYSIS | PRIMARY AND EXCESS Average YOY Renewal Change Accounts Decreasing Accounts Flat Accounts Increasing

Results displayed above reflect average CRC Group Private D&O renewal pricing changes by month (over the previous 12 months). Results are limited to accounts that renewed in the same month as the prior year with the same total account limits. To remove outliers, the top and bottom 1% of accounts by YoY % change have been removed, as well as the top and bottom 1% of accounts by rate on line (Premium/Limit*100). The REDY Index is intended for educational purposes only as individual accounts typically differ from average pricing trends.

PRIVATE D&O EMERGING ISSUES

  1. The soft market continues into 2024. Carriers are still expected to compete on coverage, and insureds are likely to see continued flat renewal rates and lower pricing on claim-free accounts with strong financials. Specifically, excess is likely to remain highly competitive. Capacity in the marketplace remains abundant. However, ongoing global conflicts, inflation, financial difficulty due to higher interest rates, and political elections could impact the D&O market during 2024.
  2. There remains a strong need for excess Side A DIC coverage to maximize the personal protection of the D&O.
  3.  Private D&O underwriters are also affected by the Fiduciary Liability and EPL, which are often combined with Private D&O. Carriers have been impacted by excessive fee litigation on the Fiduciary Liability, return to work issues, and increased claims on EPLI line due to class actions related to “employee activism surges.” Other major contributors are tension over hybrid work policies, layoffs, growing discrimination claims, and unionizing attempts reaching a 40-year high.
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