Officer and administrators should continually navigate new and rising dangers, and that development will proceed in 2025. Ever-growing use (and misuse) of synthetic intelligence, elevated geopolitical danger, boardroom fallout following cybersecurity incidents, a brand new administration within the White Home, and lots of different elements level to a different eventful yr for D&O exposures. Guaranteeing enough safety for firm management is extra essential than ever to draw and retain prime expertise.
To assist navigate these challenges, Hunton insurance coverage associate Geoffrey Fehling not too long ago co-authored a vital guidelines obtainable on Thomson Reuters Sensible Regulation that focuses on the crucial function D&O legal responsibility protection performs in government safety. The guidelines highlights essential points for in-house attorneys, danger managers, present or potential future administrators and officers, outdoors counsel, and different danger and insurance coverage professionals to contemplate in figuring out, assessing, and responding to D&O claims. Matters embody:
- The function D&O insurance coverage performs in government safety;
- Navigating the D&O insurance coverage underwriting course of;
- How D&O insurance coverage interacts with different kinds of insurance coverage;
- Methods to evaluate the sufficiency of an organization’s D&O protection;
- Advantages of devoted “Facet A” D&O protection; and
- Recommendation on what to do when a declare arises.
A full model of the guidelines, D&O Legal responsibility Insurance coverage and Govt Safety: Key Points could be accessed right here. Figuring out, evaluating, and addressing these essential points earlier than a D&O declare arises may help forestall protection gaps and maximize safety for board members and executives.
