According to Towers Watson’s 2010 D&O Liability survey, among those companies with international operations, a growing number are also purchasing a D&O policy in a foreign jurisdiction.
Twenty-one percent of respondents said they had increased their D&O limits compared to their prior D&O policy, versus 12% in 2008, the last time the survey was conducted. Additionally, while 75% said their limits had stayed the same — versus 86% in 2008 — only 3% said they had decreased their limits.
Of those companies surveyed, 53% said their companies have international operations. Of this figure, 25% purchased a local D&O policy in a foreign jurisdiction, a marked increase over 2008, where only 2% of respondents with international operations purchased a local policy in a foreign jurisdiction.
According to a press release, as a general rule, the larger the company, the more likely it was to purchase local D&O coverage. Sixty-eight percent of companies with $10 billion or more in assets said they bought local policies, while 23% of companies with less than $250 million in assets did so.Complete survey findings can be downloaded from http://www.towerswatson.com/united-states/press/3824.
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