GE see D&O insurance costs soar

General Electric has reported that the cost of its directors’ & officers’ insurance policy has increased dramatically by nearly 390%. The cost of the policy is now US$22.1mn a year compared with just US$5.8mn a year ago. General Electric changed insurers recently to ACE, XL and Berkshire Hathaway, whereas it had previously been insured by Zurich and Executive Risk Specialty.