NEW YORK--Directors and officers (D&O) liability insurance premiums increased approximately 33% on average from 2002 to 2003, according to the Tillinghast business of Towers Perrin's 2003 Directors & Officers Liability Survey.
While employee lawsuits were significant for all types of respondents, entities with more than 500 shareholders saw most of their claims come from shareholders. Despite record premium increases during the year, the 2003 D&O Premium Index indicates that the market started stabilizing toward the end of 2003 with premium increases beginning to level off. Tillinghast's survey, which included 2,139 participants, is the 26th in a series of studies on D&O liability claims and insurance purchasing patterns and the only study of its type.
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