"The size or type of a company doesn't matter, a D&O claim can happen to a director in any business," says Jim Gaskin, Head of Financial Lines (Product) for Zurich UK General Insurance. "And when they do happen, they can be expensive."
Since the global financial crisis, tougher legal and regulatory environments have meant directors face greater scrutiny of their actions. Whether it's health and safety, bribery laws, mergers and acquisitions, insolvency, wrongful trading, corporate manslaughter or equality in the workplace, directors are working in ever more complex environments.
This article studies why directors need to be fully aware of their duties/obligations and highlights the value of D&O cover.
• The benefits of comprehensive D&O cover.
• Changing regulatory landscape.
• The rise of corporate governance.