Event-driven litigation has become common with both single plaintiff and class action claims. “MeToo, Black Lives Matter and Covid-19 are all examples of general macro events that have led to specific claims against companies. We initially anticipated that there may be Covid-19 claims relating to health and safety protocols and provision of Personal Protective Equipment (PPE), but instead claims for misrepresentation, anti-competitive behaviour and insolvency materialised,” Angela illustrates.
The cover that a D&O liability insurance policy provides is an absolute necessity when it comes to the protection of the personal assets of directors, officers and other employees that are charged with supervisory and managerial responsibilities, who can be held liable for wrongful acts which may occur in their day-to-day management activities of the business or entity. The main purpose of a D&O policy is to offer financial protection for investigation and defence costs together with awards for a valid claim.
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