Merger objections and securities class action litigation increased during the first half of 2017, partially driven by “emerging” law firms taking on a bigger role, according to Advisen data presented during a quarterly D&O claims trends webinar on July 26.
An expert panel discussed the impact of these trends on the underwriting and placement of D&O insurance.
“These claims [by emerging law firms] are typically less in regards to quality but definitely more in regards to quantity and are still costly to defend,” said Richard Edsall, senior vice president, Argo Group International Holdings, Ltd. “You might have a higher dismissal rate from some of these emerging firms but they’re still claims that can be costly, and defense costs are rising at probably a four to five percent rate every year.”
Read more at https://www.advisenltd.com/2017/07/31/emerging-law-firms-venue-shifting-drive-claims-trends/
Josh Bradford, Emerging law firms, venue shifting drive D&O claims trends (July 31, 2017), available with subscription at Advisen Professional Front Page News.
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