Why D&O Insurance Prices May Be on the Rise Again
In this episode of The SPAC Podcast, we sit down with Chaz Churchwell, Founder & Principal of Churchwell Insurance Agency, to discuss the shifting landscape of public Directors & Officers (D&O) insurance. With nearly two decades in the insurance industry and a reputation for guiding clients through complex coverage needs, Chaz shares why current D&O pricing levels may not be sustainable — and what market forces could be pushing costs upward.
From the role of reinsurance companies like Trans Re, to recent exits from the public D&O market, Chaz unpacks the financial realities facing insurers. He explains how profitability challenges, competition changes, and industry consolidations could influence pricing trends in the months ahead. Whether you’re a corporate executive, insurance professional, or capital markets participant, this conversation delivers valuable context in clear, straightforward terms.
Connect with the Guest:
Chaz Churchwell – Learn more about Churchwell Insurance Agency:
https://www.churchwellagency.com/about-our-agency/meet-our-owner/team-member/chaz-churchwell/
View all of their episodes here:
https://www.thespacpodcast.com/guests/chaz-churchwell/
Connect with the Hosts & The SPAC Podcast:
Michael Blankenship LinkedIn: https://www.linkedin.com/in/mikeblankenship/
Joshua Wilson LinkedIn: https://www.linkedin.com/in/joshuabrucewilson/
YouTube Channel: https://www.youtube.com/@Thespacpodcast
Social Hashtags:
#SPACs #CapitalMarkets #DirectorsAndOfficersInsurance #Reinsurance #SPACPodcast #RiskManagement #InvestorEducation
Contact The SPAC Podcast:
https://www.thespacpodcast.com/contact/
Disclaimer:
Michael J. Blankenship is a licensed attorney and is a partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is intended for informational and educational purposes only and should not be interpreted as legal, financial, or compliance advice. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the official policies or positions of any regulatory agency, law firm, employer, or organization.
Listeners are encouraged to consult their own legal counsel, compliance professionals, or financial advisors to ensure adherence to applicable laws and regulations, including those enforced by the SEC, FINRA, and other regulatory bodies. This podcast does not constitute a solicitation, offer, or recommendation of any financial products, securities transactions, or legal services.
Let’s Connect on LinkedIn:
👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblankenship/
👉 Joshua Bruce Wilson - https://www.linkedin.com/in/joshuabrucewilson/
To Contact Us or Collaborate:
Mike (00:00): Do you think D&O insurance prices will stay low?
Chaz (00:03): No. Functionally, they can't. You've got a company called Trans Re, and Trans Re is a reinsurance company. Reinsurance companies are insurance companies that insurance companies buy insurance from. Basically, they're saying, "We're willing to take on this much risk, but anything beyond that, we want another insurance company to backstop everything so we don't have to keep a truckload of cash and capital." We can have insurance backstop some of that so we can keep more of our capital invested and making money for us.
Trans Re posted something about a month ago that shook the industry a little bit. They came out and said public D&O insurance is not profitable right now for most companies, and it's not profitable for the reinsurers. They expect that pricing has flattened and will need to increase to reach profitability. Some companies are already exiting the public D&O market. For example, Argo jumped ship on public D&O a couple of months ago. They’re the first, but they won’t be the last.
As competition declines and more acquisitions consolidate the market, we are likely to return to a place where D&O insurers can get profitable again.
Chaz Churchwell
Founder & Principal
Chaz is a ~20 year industry veteran and U.S. Army Reserve veteran. He holds membership with the Professional Liability Underwriting Society, and is regularly asked to speak internationally on insurance coverages/trends for public companies. With a BA from the University of North Texas and an MA in Apologetics from BIOLA University, his commitment to excellence is evident. Establishing Churchwell Insurance Agency in 2014, Chaz and team are now serving over 1,200 clients.
Specializing in executive liability insurance, he’s on track for the prestigious ExecPLP designation. Chaz and his team prioritize personalized solutions, adeptly navigating complex financial scenarios. Beyond work, he values investing time in family, fitness, and faith. He loves supporting his daughter’s basketball pursuits and continues to hope for a Cowboys’ Super Bowl return, despite renewed disappointment every season. Chaz’s favorite charity is The Mighty Oaks Foundation that fights veteran suicide, by bringing veterans who are suicidal and their spouse in to a no-cost program to find purpose and save that vet’s life. A portion of agency profits goes to fight for the lives of those who risked their lives to fight for us.