The buyers’ profile of D&O insurance has steadily evolved and transformed over subsequent decades, owing in part to society becoming more litigious, with little tolerance for mistakes made by directors and officers

The market for Directors’ and officers’ (D&O) liability insurance is now 80 years old, having initially been developed by Lloyd’s of London in the early 1930s during the worldwide Great Depression. At that time, companies were not permitted to provide indemnification to their directors and officers. Although focused on providing directors and officers of any company with financial protection, the buyers’ profile of D&O insurance has steadily evolved and transformed over subsequent decades.

Until the 1980s cover was purchased mainly by US companies, together with a number of non-US multinationals with a significant presence in North America. In the past 30 years, the purchase of D&O has extended to many other regions around the world. This has in part been due to society becoming more litigious, with little tolerance for mistakes made by directors and officers
- even when committed honestly and in good faith. “Previously thought a luxury of large companies, D&O liability insurance in Europe is primed for robust growth across companies of all sizes, as
it is increasingly viewed as essential,” stated Advisen in a recent report.

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