Directors and Officers Insurance: Common Policies and Usual terms in Universal Practice
One of the most discussed and least understood insurance products is Directors & Officers Liability (D&O) insurance.
Market watchers note that even some lawyers have their problems comprehending what kind of coverage the insured managers have.
At the same time, increased risk exposures and scrutiny of regulatory bodies have prompted the need for executives to be more vigilant in effecting their Directors’ and Officers’ Liability Insurance (D&O).
This seminar will provide an overview of D&O insurance and the key terms in the documentation, whereas it will offer all updates on case law and a clear guidance on how the usual conditions and exemptions apply.
By the end of the programme, participants will be able to:
- Examine the terms and conditions of a D&O policy
- Comprehend the usual exclusions
- Learn how to manage a policy once a claim is raised
- Learn to act proactively in terms of corporate governance regarding the requisites of a D&O policy
- Introduction: D&O insurance – an overview
- Directors and Officers and their basic duties
- Terms of the policy:
- Key aspects and implications
- Matters which may be varied / negotiated
- implication of different extension and how this may affect the coverage; premium etc
- Nature of Claims
- Claims Procedures and tips for notifying under a D&O policy
- Recent cases and the application of D&O insurance: Practical tests and discussion
The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies and practical examples, by the presentation of stereotype policies. Participants will also benefit from feedback and a checklist that will be useful when examining or negotiating a D & O Policy. Most of the training’s time will be invested in analysing the usual terms and conditions of standard policies that will help participants understand how to seek coverage and claim on the policies in case of claims.
This programme may be approved for up to 5 CPD units in Insurance Services. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Professionals requiring CPD units to meet the education requirements for an occupational licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Insurance Services, are advised to consider training subjects in categories that indicate CPD training in Insurance Services.
Who Should Attend
The programme is ideal for:
- D & O members from all sectors
- Bank employees
- Insurance employees