Fiduciary liability insurance renewals were stable in 2015. This coverage line continues to be the least affected by market changes of all management liability coverages.
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Favorable loss ratios and new capacity led to improved market conditions in 2015. Commercial banks with healthy risk profiles saw flat renewal premiums.
The D&O marketplace took a rather abrupt shift midway through 2015 after almost exactly four years of D&O price increases for nearly all companies, regardless of market segment.
U.S. GDP growth slowed to a paltry 0.7% in the 4th quarter of 2015. Not bad, considering the global environment, but how long the U.S. economy can stay insulated from the rest of the world continues to be questioned.
In 2015, we saw a pronounced shift in the asset manager professional liability insurance market, beginning the year as relatively stable and finishing as very soft. This time last year, we were seeing all of the earmarks of the beginning of a soft professional liability insurance market for asset managers.
Many workers think that the office environment is the safest workplace. But, a safe office workplace requires hazard control, good housekeeping and safe work practices. Arrange your office to allow clear walkways and aisles throughout the rooms and near exits. Attach tall and heavy office furniture to the wall to avoid tip-overs in an earthquake. Do not store heavy items or hang pictures over your head in your office or cube. Close file cabinet drawers, file doors and pull-out work tables when not in use. To avoid jamming your fingers or hands, make sure that cabinet and desk drawers do not open into walls or other furniture. Close drawers and doors with the flat of your hand.
Much of the driving done by commercial vehicle drivers is on multilane, limited access highways. Whether it is an open interstate or multilane road in an urban area changes always present a challenge and always raise the risk for the commercial vehicle driver. Every time you change lanes in any vehicle, but especially in a commercial motor vehicle (CMV) your risk goes up; sometimes a lot, sometimes only slightly but the risk factor does increase.