Via National Underwriter, Aon reports rates fell by low single digits during first quarter, led by a 15% decrease in directors and officers pricing.
D&O’s decrease is accelerating. Aon’s graph sums it up. Click on the graph if you need to see it larger.
The accelerating decrease is not too surpising. That line always seems to be a harbinger, and the number of securities class actions – somthing of a harbinger for the harbinger – has been declining. D&O severity is also falling, Aon says.
Other lines realized smaller declines, as my table shows.
Most companies are buying the same limits as last year, except in Property and D&O, where companies are using some of the rate decline to buy more limit.
Aon forecasts the soft market to continue across the board through year-end. A pdf of the report is here.