Financial & Professional Insurance Coverage Considerations
Published on 4 May 2020
As organisations adjust to new realities in the COVID-19 world, it is paramount that companies and their directors and officers continually review their risk profile and changing exposures, together with the evolving implications for their insurances.
Production, service capabilities, financial performance and COVID-19 related plans and responses from management can potentially all be open for scrutiny, leading to risk exposures and possible claims.
In this report, we address some key financial and professional (FINPRO) insurance coverage implications that Australian and global organisations are currently facing and/or will potentially face into the next renewal:
- Public companies: Directors’ and Officers’ Liability (D&O) areas of concern
- Related litigation
- Australian regulatory environment / ASIC update
- U.S. Securities and Exchange Commission (SEC)’s latest position
- D&O insurance coverage issues
- D&O underwriting questions on COVID‐19
- Employment Practices Liability Insurance (EPL) implications
- Cyber and Crime insurance implications
Watch a replay of our Australian COVID-19 webcast: Management Liability Best Practice.