The drop did not reflect a reduction in claims but a surfeit of capacity: start-up insurers in America and Bermuda have rushed to provide D&O cover.

• 这一下降并没有表现为赔偿主张的减少，反而是过量的诉讼：在美洲和百慕大新创办的保险公司已经忙着提供董事及高级职员责任保险。