Quarterly D&O Claims Trends Q1 2016 April 26, 2016
Today’s Moderator Jim Blinn EVP and Global Product Manager Advisen
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Quarterly D&O Claims Trends: Q1 2016 Visit www.advisenltd.com at the end of this webinar to download: – Copy of these slides – Recording of today’s webinar – D&O Loss Insight ( Advisen’s MSCAd large loss database) – Front Page News – Executive Risk Front Page News: http://www.advisenltd.com/insurance-news/front-page- news/#execbyte D&O Commercial Insurance Group – 8,183 Members http://www.dandodiary.com
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Key Findings • Securities and business litigation filings declined 14 percent compared to the same quarter one year ago. • The first quarter saw one of the lowest totals of new securities and business litigation filings and enforcement actions of any quarter since before the start of the financial crisis. • The quarter saw a mix of increases and decreases in the various case types tracked by Advisen. • Filing total declines were experienced by derivative shareholder actions, capital regulatory actions, and breach of fiduciary duties: securities • Filing total increases were experienced by foreign corrupt practices act, security class actions, and merger objection suits 6
Key Findings • Falling 33 percent year-over-year, derivative shareholder actions experienced the largest decline. • Securities class actions • Total filings up year-over-year (50 in Q1 2015 vs. 56 in Q1 2016) • Percentage of total up from 13 percent in Q1 2015 to 16 percent in Q1 2016 • With 56 percent of the quarter’s total filings, capital regulatory actions by far remained the leading source of new securities suit filings in the first quarter. • Merger objection filings were up slightly to 41 in Q1 2016 from 40 in Q1 2015. 7
Key Findings • Financial services remained the top sector for new filings. • Both the number of settlements and the average settlement value were down compared with the same quarter a year ago. • Of all the event types, capital regulatory actions saw the most settlements in the first quarter, while foreign corrupt practices act (SEC) suits and derivative shareholder actions were the most significant sources of large losses. 8
Filings and Enforcement Actions 9
Suits by Type 10
Suits by Sector 5% 7% 29% Financials 12% Industrials Other Information Technology Health Care Consumer Discretionary 14% Energy 18% 15% 11
Merger Objection Cases Annualized 12
Non-US Companies 13
Today’s Panelists Laura Coppola James Ilardi Kevin LaCroix Maurice Pesso Regional Head of Regional Head of Executive Vice President, Partner, Management Financial Lines Claims RT ProExec White and Williams LLP Liability Commercial, North America, Allianz Allianz
VW Global Investigations and Recalls 15
Energy Industry Shareholder Litigation Energy Industry includes Oil, Gas & Consumable Fuels 16
Thank you to our panelists Laura Coppola James Ilardi Kevin LaCroix Maurice Pesso Regional Head of Regional Head of Executive Vice President, Partner, Management Financial Lines Claims RT ProExec White and Williams LLP Liability Commercial, North America, Allianz Allianz
Quarterly D&O Claims Trends Q1 2016 Visit www.advisenltd.com at the end of this webinar to download: – Copy of these slides – Recording of today’s webinar – Q1 2016 Whitepaper
Loss Insight StrataScope - D&O for Insurers D&O StrataScope provides multi-dimensional information for underwriters and actuarial leaders to make informed decisions about underwriting and pricing D&O risk for public companies. D&O StrataScope intersects Advisen’s industry - leading D&O case data with time series company data to provide insight into current historical D&O case data. http://www.advisenltd.com/analytics/loss- insight/stratascope/public-company-d-o/
Save the Date! Quarterly D&O Claims Trends: Q2 2016 • Thursday, July 28 th at 11 am EDT Quarterly D&O Claims Trends: Q3 2016 • Thursday, October 13 th at 11 am EDT Visit http://www.advisenltd.com/events/ for the conference & webinar schedule
Save the Date! Visit http://www.advisenltd.com/events/ for the conference & webinar schedule
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Leading the way to smarter and more efficient risk and insurance communities. Advisen delivers: the right information into the right hands at the right time to power performance . About Advisen Ltd. Advisen is leading the way to smarter and more efficient risk and insurance communities. Through its information, analytics, ACORD messaging gateway, news, research, and events, Advisen reaches more than 150,000 commercial insurance and risk professionals at 8,000 organizations worldwide. The company was founded in 2000 and is headquartered in New York City, with offices in the US and the UK. +1 (212) 897-4800 | info@advisen.com | www.advisenltd.com
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