Directors and officers liability coverage is not uniform throughout the world, and insurance purchased for a multinational firm in the United States does not necessarily extend to other countries, brokerage executives said.
Their comments were delivered during a Marsh brokerage seminar on "The New Reality of Risk."
Nick Foord-Kelcey, a managing director of Marsh and head of D&O practice in Europe, and Stuart Hill, an attorney with the law firm Lovells LLP in London, said not all nations recognize nonadmitted D&O coverage and a close reading and understanding of local requirements is necessary to make sure executives have the right coverage where they work.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
