Directors & Officers
Recent years have seen numerous government-driven studies (from the Cadbury Report of 1992, the implication of the US Sarbanes-Oxley Act of 2002 to the Higgs Review and Smith Report of 2003) into corporate governance and the accountability, role and decision-making capability of directors and officers, making the path they now tread a much more volatile and claims-susceptible one. Unlike companies, there is no corporate veil protecting them. Naturally this has knock-on ‘duty of care’ implications for accountants, auditors and legal advisors.
Many directors and officers, unknowingly or not, fall foul of the statutory regime and their common law duties. Many are also unaware of the compliance and regulatory requirements. RCB advise Insurers and their Insureds on the exposure, defence and mitigation on such matters as: