Directors & Officers (D&O) premium rates levelled in the second quarter of 2004 as an influx of new carriers increased market competition, Willis said today.
D&O clients are enjoying good premium levels despite high profile claims and insurers becoming nervous about high level losses, the Willis' Directors & Officers Index has found.
While premium rates continued to rise in the first quarter of 2004, the rates levelled in the second quarter.
It was widely anticipated that premium rates would decline further during the next three months, the Index found.