MPR Underwriting Updates
Once upon a time, deductibles were a common feature of Directors and Officers (‘D&O’) Liability policies. Typically reserved for larger or more challenging private risks, or those that were publicly listed, they faded from view as the soft market invaded every element of the contract.
The duty to defend principle is an important one, and it governs how the mechanics of a claim are handled. It describes the insurer’s obligation to provide an insured with defence to claims.