The standards of diligence and care expected of non-executive directors in the oversight of a company are extremely high and, as Francis Kean explains, often become the subject of intense scrutiny and controversy in protracted and expensive investigations and proceedings following collapse. He discusses the potential coverage issues under D&O liability insurance policies and argues that non-executive directors should take an active and personal interest in the insurance protections which may be available to them in the event the worst happens.
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The risk that rarely speaks its name
As board members and risk professionals, we rightly focus on the risks that face our organisations. Francis Kean points out that we don’t focus on the risks to ourselves, and asks how well we understand the ways in which our liability insurance protections work and how they will respond in the event of a claim or investigation against us. He provides some practical steps we can take to understand these personal risks.
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