Are you covered against personal liability as a board member?

In this webinar our panel of experts from McGill and Partners and Herbert Smith Freehills, who will discuss clear and practical guidance as to the nature, extent and limitations of the twin protections.

Description

There is a natural assumption amongst board members that in the event of a claim being brought against them, they will be protected from personal liability. However, this is not always the case. Situations may arise in which the interests of the company and individual senior executives diverge or are in conflict.

As a sitting board member, understanding the mechanics of any insurance and/or indemnification protections which have been put in place to protect you is imperative.

From the company’s perspective, striking a wise and fair balance between protecting the interests of the company and those of the individual may present its own challenges.

For example:

  • What happens in the case of company insolvency?
  • What happens if a claim or investigation commences against a director long after they have left the company?

While the likelihood of either of these outcomes may be remote, the risk of being left without adequate protection is real.

This panel discussion, brought to you by McGill and Partners and Herbert Smith Freehills offers clear and practical guidance as to the nature, extent and limitations of the twin protections available under directors’ and officers’ liability insurance, and by virtue of company indemnification. We also explored ways in which these protections can be preserved and improved in a very challenged D&O insurance market.

Speakers

Greig Anderson, Partner, Herbert Smith Freehills

Greig is a partner in the contentious insurance team at Herbert Smith Freehills. He specialises in insurance disputes assisting policyholders on claims and coverage issues in relation to all types of insurance and reinsurance as well as advising on insurance issues in the context of crisis management. In recent years, he has acted on many of the most complex and high value claims in the market, assisting clients in recovering hundreds of millions of pounds. His experience extends across all types of insurance and reinsurance, with particular emphasis on management liability (D&O/POSI), cyber, crime/bankers blanket bond, civil liability (PI), trade and credit risk, property and business interruption, and bulk annuity. Greig is ranked in Legal 500 UK 2021 as a next generation lawyer for both insurance litigation (for policyholders) and insurance and reinsurance litigation.

Francis Kean, Partner - Financial Lines, McGill and Partners

Francis Kean joined McGill and Partners as a Partner in February 2020. He was formerly at Willis as an Executive Director of FINEX Global having joined in 2010. Prior to that Francis was a Partner with the UK law firm Barlow Lyde and Gilbert LLP. He brings 25 years of experience as a litigation lawyer specialising in professional indemnity, financial institutions and directors and officers liability in the London insurance market. He was responsible for the launch of DARCstar, the first broker derived primary D&O form and the only D&O wording to win the Insurance Innovation of the Year Award.

Whilst in private practice, Francis handled a wide variety of claims both for insurers, insureds and has considerable experience of drafting policies and advising all parties in connection with coverage issues. He has handled disputes ranging from the defence of large, international claims against professionals to multi-jurisdictional coverage disputes. He has edited a book on D&O liability insurance published by The Insurance Institute of London.

Julia Crane, Deputy Company Secretary, Hammerson plc

Julia Crane is an experienced company secretary with expertise in a broad range of UK & international legal, corporate governance and compliance issues within diverse UK listed organisations inclusive of property, mining, agriculture, fashion, engineering and financial services. She is currently Deputy Company Secretary of Hammerson plc and manages a team with a broad remit which includes listed and private company governance, share schemes, insurance and pensions.

Peter Swabey, Policy & Research Director, The Chartered Governance Institute UK & Ireland

Peter is the Policy & Research Director at The Chartered Governance Institute UK & Ireland. He is responsible for developing the Institute’s profile to members, regulators, policymakers, employers and other stakeholders by delivering thought leadership and lobbying campaigns aligned to the Institute’s strategy and promoting strong governance as the vital ingredient for success in organisations.

Sponsors

Sponsored by:

Herbert Smith Freehills

Herbert Smith Freehills is a full service international law firm with a market-leading insurance practice. It is ranked as a top-tier firm in both Chambers UK and Legal 500 in representing policyholders in the largest most complex coverage disputes in the London and international market. Herbert Smith Freehills lawyers have an outstanding reputation in complex, high profile insurance disputes and for providing strategic legal advice and representation to corporate policyholders. The firm assists with the resolution of major claims across all classes of policy as their core expertise, including advice on coverage, claim project management and claims advocacy to secure appropriate settlement of claims using the full range of dispute resolution procedures including litigation, arbitration and all the forms of Alternative Dispute Resolution. This unrivalled hands-on experience of coverage disputes informs Herbert Smith Freehills’ approach to policy wording reviews and drafting. The team also advise on the interface between insurance and contractual risk allocation regimes in commercial contracts.

McGill and Partners

McGill and Partners is a boutique, specialist (re)insurance broker, who focuses on clients with complex and/or challenging needs, combining true expertise with a fresh perspective. The firm’s core areas of expertise are across: Marine & Cargo, Aviation & Aerospace, Complex Property & Casualty, Energy & Power, Financial Lines, M&A, Structured Solutions and Reinsurance. McGill and Partners was established in 2019 and it is backed by Warburg Pincus, a global private equity firm focused on growth investing.

How to access this recording

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