Key Trends Expected to Impact Directors and Officers Insurance in 2023

The directors and officers (D&O) liability insurance market has experienced a challenging year. Moving into 2023, we’ll see some of these issues resolved, and we’ll also experience new changes in the market.

For an existing policyholder or a business considering D&O liability insurance, the following are general D&O trends that we expect to see in the new year:  

  • In order to earn the business, new carriers who are entering the market and competing against more-established programs are likely to expand their risk appetite and offer broader coverages.  
  • We expect to see more competitive terms and premiums continue to be offered on new business accounts, as well as greater opportunities to negotiate for more expanded coverages.  
  • Underwriters will continue to base renewal premiums on a business’s overall financial strength and specific sector.
  • In order to retain favorable accounts, more insurers are likely to reduce premiums for renewals that have maintained a favorable loss history and that practice corporate governance risk management.
  • Businesses facing claims of alleged D&O wrongdoing will continue to face high court costs to defend and settle claims.
  • The increased regulatory action that is being taken against businesses by the Securities and Exchange Commission regarding cybersecurity disclosures is expected to intensify and continue to impact managers and board members.

According to Risk Management, “For a host of reasons, [D&O liability] coverage needs to be available when directors and officers are targeted in shareholder suits, or when the company comes under regulatory scrutiny in the wake of cyberattacks.”

It’s important to help businesses like yours better understand D&O insurance market trends that could impact your coverage and company bottom line. If your business needs D&O insurance and you would like to learn more about this vital coverage, contact the experts at Oakwood D&O. We have over 15 years of experience specializing in all aspects of management liability, and we are laser-focused on D&O insurance.

Let’s get in touch! Email Eli Solomon, CEO, at or call him at 323-686-7519. You can also follow Oakwood D&O on LinkedIn