D6: Anatomy of a D&O claim

Very few boards of directors face litigation or criminal prosecution. So when a D&O claim is brought against them, it’s usually their first time. D&O claims can be highly personal and complex, and frequently present conflicts of interest. Understanding the potential pitfalls before a claim is made can make all the difference.

This session will explore:

• How can you and your board expect the D&O policy to respond once a notification is made?
• What details are insurers scrutinising when considering claims payments and how might these issues be overcome?
• What are the crucial areas to be addressed to ensure a smooth claims process?

Lockton will present the story of a hypothetical D&O claim from first advice through to settlement, analysing key issues along the way, such as:

• allocation of costs,
• choice of counsel,
• billing guidelines,
• conflicts of interest,
• inter-related matters,
• the impact of self-reporting and DPAs, and
• whistleblowing.

The presentation will draw upon real-life scenarios experienced in settling D&O claims. You will come away with tips and strategies for optimising claims responses under your D&O liability policy – including the value of claims protocols, the importance of disclosures and managing your board’s expectations.

Presented by: Michael Lea, Account Executive, Lockton and Anne Davies, Special Counsel, Gunner Cooke

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