Directors and officers
Specialist advice to directors, companies, insurers, intermediaries and reinsurers on the interpretation and application of D&O policy wordings and the resolution of associated claims.
The need for D&O insurance is increasing, not only in the US and UK but throughout Continental Europe and the emerging markets.
US sub-prime losses, the global credit crunch and high-profile cases such as Worldcom, Enron, the Independent, the "Natwest Three", Societe Generale, Northern Rock, Madoff and Stanford have shone a spotlight on the actions - and inactions - of those sitting in boardrooms.
With increased legislation and regulation in the UK, increases in the number of companies failing due to the recession and the arrival on these shores of US law firms specialising in class actions, this trend is likely to intensify over the next few years. Cases such as RSA v Dornoch and AIG v Faraday have also highlighted some of the reinsurance issues arising out of D&O coverage.
Weightmans' London Market Team advises directors, companies, insurers, intermediaries and reinsurers on the drafting, interpretation and application of D&O wordings at both an insurance and reinsurance level. We provide sound, practical advice designed to protect your position and to minimise your risk, whether as an individual director or organisation.
We can advise on the increasing numbers of claims brought by shareholders against UK companies; claims by UK companies against their former directors; insurance and indemnification issues, and recovery under outwards reinsurance contracts.
Our service is both supportive and proactive, and designed to help you deal effectively with the issues arising from this constantly changing area.