The Market for directors' and officers' insurance / Stephen G. Fier, Andre P. Liebenberg
Sumario: Directors' and officers' (D&O) liability insurance is a commonly used risk management tool for corporations both in the United States and abroad. While prior research has focused on the demand for D&O insurance and its role in corporate governance, there is an absence of literature on the supply side of the D&O market. Using the newly available D&O Insurance Coverage Supplement to insurers' statutory filings, we develop a more comprehensive understanding of the D&O insurance market and of those firms that write D&O coverage. We develop and estimate a model of the decision to write D&O insurance and the extent of market participation. Our results suggest that there are significant operational and financial differences between firms that supply D&O insurance and those that do not. Several of these differences (specifically, size, diversification, and organizational form) are consistent with the predictions of the managerial discretion hypothesis
En: Risk management & insurance review. - Malden, MA : The American Risk and Insurance Association by Blackwell Publishing, 1999- = ISSN 1098-1616. - 06/10/2014 Tomo 17 Número 2 - 2014 , p. 215-239
1. Responsabilidad civil de la empresa . 2. Mercado de seguros . 3. Seguro de responsabilidad civil profesional . 4. Gerencia de riesgos . 5. Dirección de empresas . 6. Estudios de mercado . 7. Predicciones económicas . 8. Empresas de seguros . 9. Seguro D&O . 10. Directors and officers (insurance) . I. Liebenberg, André P. . II. Título.