Soft Market & Multi-Year Policies

In a sign of our time and a repeat of prior soft markets, multi-year insurance policies are making a strong comeback for For-Profit Directors and Officers (D&O) coverage, Non-Profit Directors and Officers coverage, and Employment Practices Liability (EPL) coverage. Most insurers used multi-year policies a few years ago, but discontinued the practice during the hard market. Insurers are providing this benefit in different ways. One insurer is charging the entire premium at policy inception after applying a discount factor, while...