What is Directors and Officers Liability Insurance Market?
Directors and officer’s liability insurance is the insurance intended to protect individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or other type of organization. It includes cover for defence costs, investigation costs, and extradition costs. In addition to this also includes legal fees and other costs which organization incurs. Depending in the nature of organization the director and officer’s insurance can take different forms. This policy is purchased by enterprise for group of individuals rather than an individual themselves.
The market study is being classified, by Application (Board of Directors and Management) and major geographies with country level break-up.
Chubb (ACE) (Switzerland), AIG (United States), Hiscox (Bermuda), Allianz (Germany), Tokio Marine Holdings (Japan), AXA XL AIG (United States), Travelers (United States), Assicurazioni Generali (Italy), Doctors Company (United States) and Marsh & McLennan (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Liberty Mutual (United States) and Medical Protective (United States).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Directors and Officers Liability Insurance market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Directors and Officers Liability Insurance market by Type, Application and Region.
On the basis of geography, the market of Directors and Officers Liability Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Trend for Regulators and Stakeholders to Hold Directors and Officers Personally Responsible for Problems
- High Costs Associated with the Suits and Legal Fees is Influencing to Take the Insurance
- Increasing Awareness About the Directors and Officer’s Insurance
- Applications in Wide Range of Industries
- Increasing Sales Channel for Insurance
- Stiff Competition Among the Major Players
On October 2020, Sompo International Holdings Ltd. has launched new Directors and Officers Liability insurance policy form for publicly traded companies. It is is the latest addition to the existing Sompo International Management Assurance Platform (“MAP”).
Key Target AudienceInsurance provider, Distributors, Government associations, Research organizations and Others
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