Three Takeaways from the 2022 PLUS D&O Symposium

Name tags, coffee thermoses and laptop bags — these mundane staples of doing business pre-pandemic were dusted off this month as the 2022 PLUS Directors & Officers Symposium invited insurance professionals back to New York City for one of our industry’s largest events.

It was my honor and joy to attend the conference this year — both for the networking and to hear different perspectives about the state of the market, trends moving forward and insights from industry experts.

Now, days after the event, I’m still thinking about my top takeaways from the sessions I attended. Join me in considering how these three factors may shape the way we do business:

1) Securities Class Action (SCA) lawsuit filings are expected to increase

SCA lawsuit filings declined in 2021, largely due to a drop-off in Federal M&A Filings. Claim activity is expected to pick up going forward due to returning volatility in the stock market, SPACs merging with their acquisition targets, and continuing growth of event driven litigation, among other factors. The year 2021 had the largest number of SCA settlements and dollars paid out in the past 10 years (excluding settlements of $1 billion and more).

2) Increasing Derivative Action Settlements

In addition to the SCA activity, 7 of the 10 largest Derivative Action settlements were in 2020 and 2021. The rising costs of both SCA settlements and Derivative Action settlements is putting pressure on D&O premiums as the market remains challenged.

3) Diversity, Equity & Inclusion in the boardroom and throughout an organization remains a key industry topic

The Keynote Session, “DE&I in the Boardroom,” was incredibly informative and reaffirmed the importance of companies maintaining an inclusive environment throughout the organization. Check out the video recording of the session on PLUS’s blog. The experts featured in this session share important insights that can help other leaders improve their organization through DE&I initiatives.

Filed under E&S Financial Lines
Dan Conway

Dan Conway

Head of Financial Lines

Dan specializes in Management Liability and Crime Insurance Products. In his current role, he is responsible for building and leading the Financial Lines Group at GuideOne National Insurance Company, an E&S insurance subsidiary of GuideOne Insurance Company. He is tasked with growing and maintaining a profitable book of business with the company’s financial products, primarily consisting of Public Company Directors and Officers Insurance. He oversees the business unit’s strategy, underwriting guidelines, reinsurance placement, product development, policy form creation, training programs, procedures, marketing, and underwriting efforts.

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