Declarations

D&O Limits Driven Up

“Clearly, companies are reacting to the fact that D&O liability exposures facing directors and officers are arguably at an all-time high. Insurance buyers continue to be threatened by an ever-expanding litigation environment and have an increased awareness over regulatory issues they might encounter.”

—Larry Racioppo of the executive liability group in Towers Watson’s Brokerage business. Towers Watson’s 2010 D&O liability survey reports that 21 percent of respondents increased their D&O limits compared to their prior policy, versus 12 percent in 2008. While 75 percent said their limits had stayed the same — versus 86 percent in 2008 — only 3 percent said they had decreased their limits.

Hardball Tactics

“The Philadelphia archdiocese has deployed and employed the hardball legal tactics of hiding behind the statute of limitations. They have effectively been able to avoid any financial or public accountability — until now.”

—Jeff Anderson, who has sued the Archdiocese of Philadelphia on behalf of a man who said two priests sexually abused him as a child. The complaint is one of the first filed under a 2002 law designed to give child sex-abuse victims more time to come forward.

Presumably WatsonPresumably Watson

“I could actually envision an agent or an executive literally referring to the system in the presence of the consumer or the trainee, saying, ‘Hey, I don’t know this. I’m not positive about that. Let’s ask Watson. ‘Hey, Watson. What do you think?'”

—IBM’s insurance industry representative Jamie Bisker speaking of potential assignments in insurance for “Jeopardy” TV show champion, IBM’s computer Watson.