Aon PLC's customers saw an increase of 16.8% in the average price per million for their board and service liability policies during the fourth quarter, according to a report released on Monday.
But the price per million for customers who renewed in both 2021 and the fourth quarter of 2020 decreased by 1.1%, according to the report.
The total price increase for primary insurance renewed with the same limit and deductible was 3.7%, the report said.
The price index includes all purchased limits by listed companies during the quarter, and changes in customers renewed during the quarter, changes in purchased limits or a change in the mix of limits between ABC limits and Side-A Only limits may affect the overall performance of the index, according to the report.  For the fourth quarter, 11% of primary insurances received a price reduction, 15% were renewed flat and 74% of companies received a price increase, the report said.
A total of 94.4% of primary policies were renewed as with the same border; 85.6% were renewed with the same deductible, 80% were renewed with the same limit and deductible and 96.3% were renewed with the same insurance company.
Observers have said that D & O's liability insurance levels have stabilized after several years of rising interest rates, and expect that prices as a whole will remain relatively unchanged at least during the first half of the year, after which there may be reductions.