Directors’ liability insurance rises 200pc

The average premium for directors’ and officers’ liability insurance for the ASX 200 rose by 200 per cent over the past calendar year, leading some companies to withdraw from products or sign up for huge excesses.

Craig Claughton, head of financial and professional insurance at global brokerage Marsh, said premiums were rising due to a “couple of very significant drivers”, the main one being that the “class action environment in Australia has been quite prolific”.