Tag Archives: Rachel Soich

Evolving market conditions may lead to increases in D&O coverage rates

Securities action lawsuits, prevailing social issues like the #MeToo movement, and evolving cyber security risks are trends that have increased the demand for directors and officers (D&O) insurance coverage and overall costs to insurers. As a result, insurers are calling for higher coverage rates.

Many insurers believe risks are increasing without any signs of slowing, indicating 2019 may be the first of many years insureds will face unexpected D&O insurance rate hikes. For more perspective on the changing landscape of D&O insurance, read Rachel Soich’s article “Three rising trends in D&O insurance.”

Uninsured subcontractors can increase insurance costs

Subcontractors benefit companies in various industries like utility and construction with specialized knowledge to ensure product quality at a lower cost. However, these companies need to consider the additional liability risks associated with a subcontractor’s work and safety. Careless subcontractors that do not obtain proper insurance coverage can increase a company’s liability and negatively affect its financial results.

What types of insurance coverage does a subcontractor need? What happens when a subcontractor is uninsured without a company’s knowledge? Milliman’s Rachel Soich provides the answers in her article “Subcontractors: How a common business practice could lead to a mountain of insurance costs.”