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
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.”
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.”