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This report presents the findings of the 1999 Directors and Officers Liability Survey conducted by Tillinghast, continuing the legacy of the previous Watson Wyatt survey. It encompasses over 1,400 responses from various business classes, including significant contributions from Canadian and high-technology firms. The report highlights trends in claim frequency, severity and indemnification patterns across different segments, underscoring changes in participation rates and coverage details compared to earlier years. Educational aspects were reintroduced, enriching the survey’s data set.
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Directors & Officers Liability Survey1999 Results and Historical Trends Casualty Actuaries in ReinsuranceJune 15, 2000 Mark W. Larsen
Directors & Officers Liability SurveyBackground • Formerly conducted by Watson Wyatt.Conducted by Tillinghast as of 1998 Survey. • Self-selecting nonprobability sample of claim and insurance purchasing patterns. • Responses submitted primarily in second half of calendar year. • Not every participant answers every question, even though there is substantial follow-up. • Over 1,400 usable responses in 1999 Survey, including Canadian responses.
Directors & Officers Liability SurveyChanges for 1999 • Education reintroduced, after Healthcare in 1998. • More high technology firms (again). • More small firms (again). • More Canadian firms. • Much more detail about coverage features.
Directors & Officers Liability SurveyParticipation by Business Class
Directors & Officers Liability SurveyClaim Frequency by Business Class
Directors & Officers Liability SurveyClaim Frequency by Asset Size - For-Profit
Directors & Officers Liability SurveyClaim Frequency by Ownership
Directors & Officers Liability SurveyClaim Frequency by Merger/Acq./Div. - For-Profit
Directors & Officers Liability SurveyClaim Frequency by After-Tax Losses - For-Profit
Directors & Officers Liability SurveyClaimant Distribution - For-Profit * Adjusted
Directors & Officers Liability SurveyClaimant Distribution Source: 1999 D&O Liability Survey
Directors & Officers Liability Survey Average Severity for Closed D&O Claims Note: Excludes claims closed w/o payment
Directors & Officers Liability Survey Average Indemnity Severity by Business Class Note: Excludes claims closed w/o payment
Directors & Officers Liability Survey Average Defense Severity by Business Class Note: Excludes claims closed w/o payment
Directors & Officers Liability Survey Average Indemnity Severity by Asset Size Note: Excludes claims closed w/o payment
Directors & Officers Liability Survey Average Defense Severity by Asset Size Note: Excludes claims closed w/o payment
Directors & Officers Liability Survey Average Indemnity Severity by Claimant Note: Excludes claims closed w/o payment
Directors & Officers Liability Survey Average Defense Severity by Claimant Note: Excludes claims closed w/o payment
Directors & Officers Liability Survey Indemnification by Firm for D&O Claims Source: 1999 D&O Liability Survey Claims with some non-entity defendant only.
Directors & Officers Liability SurveyInsurance Coverage of D&O Claims - Closed
Directors & Officers Liability SurveyPrevalence by Business Class
Directors & Officers Liability SurveyPrevalence by Asset Size
Directors & Officers Liability SurveyPrevalence by Ownership
Directors & Officers Liability SurveyEntity Coverage Prevalence by Asset Size
Directors & Officers Liability SurveyMain Reason for Not Purchasing D&O Insurance
Directors & Officers Liability SurveyD&O Premium Index - U.S.
Directors & Officers Liability SurveyFull D&O Limits Capacity (Millions)
Directors & Officers Liability SurveyAverage Total Limit by Asset Size
Directors & Officers Liability SurveyAverage Corporate Deductible by Asset Size
