Towers Perrin Calling for Survey Submissions

Stamford, Conn. — Towers Perrin, a global professional services firm, risk and financial management, is calling for data submissions for its 2008 Directors and Officers (D&O) Liability Survey. Deadline for participation is Friday, August 29.

The 2008 survey, the 31st in a series of studies on D&O liability insurance purchasing trends, has been condensed, with more than one-third of the questions from the 2007 edition eliminated. Thus, the amount of time needed to complete the questionnaire has been greatly reduced, making it more time-efficient to contribute to a comprehensive survey of critical benchmarking data, according to Michael Turk, senior consultant and director of the survey.

To participate in the 2008 Directors and Officers Liability Survey, request a secure link from caroline.webb@towersperrin.com, then visit Towers Perrin's Web site to complete the electronic questionnaire. (The survey is best completed by the person responsible for purchasing an organization's D&O insurance coverage.) Participants are encouraged to download a printer-friendly copy of the survey and to use it as a working document.

Findings from Towers Perrin's 2007 D&O survey, which had nearly 3,000 participants, showed the continuing softness in the D&O market through lower premiums, higher limits, lower retentions and more coverage enhancements. The survey also revealed that few companies with international exposures were purchasing local D&O insurance policies; IDL coverage was something they were considering, but very few had purchased, and half bought their fiduciary liability coverage with their D&O policy.

Source: Towers Perrin