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What's keeping your bosses up at night?

Posted By Staff Reporter, Tuesday, December 4, 2018


Many of you are officers of your company. What is your main worry? Cyber attack? Probably. Another worry? Regulatory claims that involve you and your directors and officers insurance.

Willis Towers Watson’s sixth annual D&O: Personal Exposure to Global Risk checked in with 161 directors and officers about cyber attacks and other subjects, and found 44% have experience a significant or sizable data loss in past year.

A year ago that figure was 24%.

The other top risks:



  Health and safety legislation

  Criminal and regulatory fines


This is where D&O comes into play:

  43% of large employers experienced a regulatory claim involving a director in the last year

  38% of all companies surveyed reported the same thing

  60% say company behavior is being changed because of a focus by regulators on personal accountability of directors and officers


The Willis Towers Watson report said many company leaders wonder whether a D&O policy will be able to respond to claims in all jurisdictions. That led to worries about:

  How claims against directors and officers will be controlled and settled

  A broad definition of who is insured in clear, easy to follow policy terms

  Whether there is coverage for the cost of advice in the beginning of an investigation


Source link: Business Insurance

Tags:  boss worries  company officers  cyber attack  Cyber Breach  insurance content  insurance industry  insurance news  weekly industry news 

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