Corporate leaders at greater risk of legal, regulatory liabilities
Heightened scrutiny due to changing risk, compliance landscape: business insurer AGCS
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Singapore
WHILE some US$15 billion of premiums are collected annually for directors and officers (D&O) insurance, the profitability of the sector is being challenged as insurers see an increasing number of claims being made, according to the 2020 D&O insurance insights report by Allianz Global Corporate & Specialty (AGCS).
D&O insurance policies offer liability cover for company managers to protect them from claims which may arise from their scope of duties. This includes defence costs and damages that may stem from wrongful act allegations and lawsuits brought against them.
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