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.
We are recommended in the UK Legal 500 directory (2010 edition)
which says "... Ling Ong and Colin Peck are the main insurance
contacts in the London office handling D&O..."