Aon PLC said Friday that pricing for public directors and officers liability insurance decreased in the first quarter, with the average price per million dollars of coverage decreasing 13.2% compared with the same period last year.
The brokerage said the average price change for primary policies with the same limits and same deductible decreased 5.4% and that 63% of primary policies renewing with the same limits and deductibles experienced a price decrease.
The median price change for primary policies renewing with the same limits and deductible was down 2.6%.
The Pricing Index for the quarter decreased to 1.12 from 1.29 for the same time last year, marking the 12th quarterly decrease since Q4 of 2017, Aon said.
Only 10% of policyholders saw an increase when renewing their primary D&O policies, and 27% had flat renewals.
Policyholders were steadfast in their coverage, with 96% of primary policies renewing with the same limit, 94% with the same deductible, 91% with the same limit and deductible, and 89% with the same insurer.
