Officers and administrators should consistently navigate new and rising dangers, and that development will proceed in 2025. Ever-growing use (and misuse) of synthetic intelligence, elevated geopolitical threat, boardroom fallout following cybersecurity incidents, a brand new administration within the White Home, and plenty of different components level to a different eventful 12 months for D&O exposures. Guaranteeing ample safety for firm management is extra essential than ever to draw and retain prime expertise.
To assist navigate these challenges, Hunton insurance coverage accomplice Geoffrey Fehling lately co-authored a necessary guidelines accessible on Thomson Reuters Sensible Legislation that focuses on the crucial function D&O legal responsibility protection performs in govt safety. The guidelines highlights essential points for in-house attorneys, threat managers, present or potential future administrators and officers, exterior counsel, and different threat 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 govt safety;
- Navigating the D&O insurance coverage underwriting course of;
- How D&O insurance coverage interacts with different forms of insurance coverage;
- Methods to evaluate the sufficiency of an organization’s D&O protection;
- Advantages of devoted “Aspect 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 Government Safety: Key Points will be accessed right here. Figuring out, evaluating, and addressing these essential points earlier than a D&O declare arises may also help stop protection gaps and maximize safety for board members and executives.
