AIG hit by own D&O costs

Even insurers are hit by premium increases. US insurer AIG, has reported an almost 60% rise in the cost of the premium it pays to protect its own board and executive officers. AIG has been able to charge more for D&O with the hard market, but this is impacting on its own D&O costs. It said in a filing with US regulators that its premium cost US$2.85mn for the year to the end of next month, up 58% from last year’s US$1.8mn.