Real-world war stories from the front lines of D&O Insurance to illustrate the importance of various principles. The book contains a chapter of career advice from more than 60 senior insurance executives, including 25 current or former CEOs. Respected leaders such as Maurice "Hank" Greenberg, Brian Duperreault, Stephen Way, Dinos Iordanou, Kevin Kelley and many others provide their unique insights on career advancement.
“With the ever increasing number of claims against directors and officers, this book provides a very welcome addition to the bookshelves which hitherto have lacked books on this important area” - Alison Green, Chairman of the Trustees of the BILA Charitable Trust. This book scrutinises the origins and the rationale underlying D&O insurance, and provides answers to the question of protecting directors against the potential liabilities they may face. It provides clear understanding about D&O policies wording, exclusions and issues of misrepresentation. The information contained in this new book includes Nature and Legality of D&O Liability Insurance, D&O Exclusions, Directors’ and Officers’ Liability to Third Parties, Directors’ Liability at Civil Law, D&O: Defence Costs Cover and Allocation, Aggregation Principles and D&O Cover and the Reinsurance of D&O Policies.
In recent years several cases concerning the liability of directors and officers have courted controversy. Arguments raised in such discussions oscillate between two extremes: on the one hand, the need for governing bodies to give a space to entrepreneurial discretion and on the other hand to ensure the protection of investors in and creditors of a company from the consequences of disadvantageous decisions by those bodies. In light of the geographical dispersal of the above stakeholders, the study offers a comparative insight into the liability of directors and officers in 10 key European jurisdictions (in particular, Austria, Czech Republic, Germany, Italy, the Netherlands, Norway, Poland, Spain and Switzerland) and 4 non-European jurisdictions (namely Brazil, Israel, Turkey and the United States). Amongst other things it investigates existing company law principles on the topic and examines their interaction with tort law and other fields with a view to suggesting principles for better stakeholder protection. National reports are complemented by an economic analysis and insurance, conflict of laws and comparative reports. The study also benefits from case study analyses.
This book examines such topics as: the risks officers and directors face, derivative and class actions, and when a corporation is required--or allowed-- to provide indemnification.
"Understanding and interpreting D & O liability and coverage issues involves studying the evolved terms of the corporate liabilities presented, the contract terms implicated and the case decisions interpreting those terms. Now updated, [this book] has evolved with the expansion of corporate liabilities, the terms of the policies at issue and the judicial interpretations as well. Use this book as a reference tool for navigating the current landscape, providing synopses of important judicial decisions (in various jurisdictions) on the key provisions that commonly arise. This book reflects on this history of directors and officers exposures and the insurance coverage called upon to address those risks. [This book] covers the following important issues: policy issuance; insuring agreements; trigger and scope of coverage; defense obligations; policy limits, retentions, and exclusions; settlement; allocation; policy termination and nonrenewable; coverage litigation issues; and recent developments in D & O liability abroad."--
In our increasingly litigious society, no company can afford to be without directors' and officers' liability insurance. To the author, whose involvement with this form of liability insurance dates from its earliest introduction, the rapid growth in demand comes as no surprise. The current rule seems to be: If you can't sue the person you thought responsible, keep on filing suits until you hit a target. Directors' and Officers' Liability Insurance scrutinizes new legal developments and case law, new insurers and challenges in ownership, and new types of policy and marketing methods. Each chapter is constructed as a separate module for ease of use and practicality. The author provides the views and experiences of specialist practitioners together with detailed case studies. He also illustrates the links between other forms of insurance and their relationship with international company law. A well designed liability policy will go a long way in managing the potential liabilities that directors' and officers' face as they deliver their services to their clients. Directors' and Officers' Liability Insurance provides a comprehensive source of information useful to brokers and other professionals worldwide. This book is a necessity for any broker who has dealings with major companies, and for underwriters of companies moving into this sector. Features
