Breakfast Seminar | Directors & Officers Liability (D&O) Insurance
D&O has become a standard product for large corporations as cover is necessary to enable directors and officers to make decisions without the threat of personal liability. Consequently the market for D&O has grown rapidly and worldwide today, it commands roughly $10 billion in gross written premiums. Still D&O is one of the most discussed and least understood insurance covers. Many have problems comprehending what kind of coverage the insured directors and officers have.
The aim of the Breakfast Seminar is to address some of the key D&O challenges and provide valuable insight into relevant trends and market developments.
Program
Introduction
Atle J. Skaldebø-Rød, Partner at BAHR
Basic considerations when buying D&O insurance
Cato Aamodt, CEO at Lockton Companies
- Claim trends (world-wide and national)
- Directors’ exposure – beware these risks
- Important considerations – the “dos and don’ts
- Norwegian products vs London products – key pitfalls and differences
- Available products in Norway and what they typically cover (including Lockton’s)
- How to improve coverage?
- Insolvency – what to bear in mind (in anticipation of)
D&O insurance in Norway
Marta Skadal Kvåle, Senior Associate at BAHR
- The applicable laws and rules – the insurance agreement
- Analysis of (chosen) available products (including Lockton’s) – key terms and differences
- Covered persons and positions
- Covered claims
- Insolvency
D&O insurance in the UK
Mark Dawkins, Partner at Akin Gump and Sheena Buddhdev, Senior Counsel at Akin Gump
- The applicable laws and rules – the insurance agreement
- Comparative analysis (compared with Norwegian position as above) of key terms and typical provisions:
- Insured vs policyholder
- What is typically covered
- The importance of exclusions
- Reporting and discovery periods
- Issues that can arise on insolvency
- Practical issues (e.g. levels of cover, coverage of legal fees, claims made post-retirement of director)
