Description of Directors' and Officers' Liability Insurance
Directors' and officers' liability insurance was at one time considered essential only for large public corporations. Now, no public limited company anywhere in the world should be without it. Large private companies, charities, financial institutions, pension funds and all executive directors need to consider the risks. It is a widely held misconception that legal action cannot be taken against individual directors of limited liability companies.
D&O is one of the fastest growing areas in the world insurance market. Company directors are facing increasingly onerous resonsibilities as shareholders demand higher standards of corporate governance. Recent years have seen more stringent laws on environmental liability and directorial responsibility for pollution is now a global concern.
Ian Youngman cuts through the jargon and explains the intricacies of this kind of cover and how it relates to other forms of insurance. He includes examples of claims, as well as profiles of insurers specialising in this area. He also assesses the current and likely future status of D & O cover in all the world markets.
Contents of Directors' and Officers' Liability Insurance
1. The need
2. The cover
3. Links with other insurances
4. Variations
5. Pension trustee
6. Non-profit institutions
7. Environmental
8. Relationship to company law - UK
9. Relationship to company law - USA
10. Claims examples - UK
11. Claims examples - USA
12. The marketing of D & O liability insurance
13. Underwriting
14. D & O liability insurance in the USA
15. D & O liability insurance in the UK
16. D & O liability insurance in the Europe
17. D & O liability insurance elsewhere in the world
18. International covers
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