Australia is developing a class action environment according to recent reports by Zurich Australia General Insurance. The insurer says payments made by the General Insurance industry on Directors & Officers (D&O) claims are expected to increase this year.
Chief Claims Officer, Mark Gates, of Financial Lines for Zurich’s Asia Pacific region says, “Payments made on D&O insurance have trended upward until 2009 and Zurich expects an increase in 2010.”
In response to these trends, Zurich has strengthened its financial lines claims area with various new appointments in the past months.
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