In this chapter of our Annual Insurance Review 2021, we look at the main developments in 2020 and expected issues in 2021 for D&O.

Key developments in 2020

For D&O insurers, 2020 was all about the hardening market – with rates doubling in some cases and limits contracting – and the underlying causes of that.

In But Ka Chon v Interactive Brokers LLC [2019] HKCA 873, the Hong Kong Court of Appeal upheld a lower court's decision to reject an application to set aside a statutory demand. The appellant had argued (among other things) that an arbitration clause in his agreement with the respondent required their dispute to be referred to arbitration.

We note with interest the Government's Discussion Paper, 'Transparency & Trust: Enhancing The Transparency of UK Company Ownership And Increasing Trust in UK Business', published yesterday.

In the Paper, the Government proposes to (amongst other things):