Insurers to increase D&O premium rates in India amid rise in fraud

8/7/2018 6:52:00 AM

Source: Business Insurance

Insurers are likely to increase premium rates for directors’ and officers’ liability insurance for banks following several loan-related corruption scandals, Business Line reported. Several banks are looking to increase coverage under their D&O liability policies to almost five times the current level to cover potential legal expenses. An official at a public-sector bank said that the bank plans to increase its D&O cover to 1 billion Indian rupees ($14.5 million).