The past few years have seen a significant increase in directors and officers (D&O) being held legally accountable for organisational mistakes or failures. And, in a constantly evolving risk landscape, you can't afford to ignore the following top D&O liability risks:
1. Compliance - Recent regulations have given added responsibilities to senior leadership roles, making it vital to comply and avoid fines.
2. Artificial intelligence (AI) - While new technology such as AI can provide various benefits to your organisation, it also exposes you to increased cyber-risk and D&O liability under the GDPR.
3. Brexit - Political uncertainty can make it difficult to understand the possible risks your organisation faces. However, you could be held liable if you fail to take proper action to prevent foreseeable losses.
4. Climate change - Especially as environmental concerns rise, you could be held liable if your operations are not eco-friendly.
5. #MeToo - Sexual harassment and assault continues to be a prevalent topic in the media, which means it should remain a high-priority topic in your workplace to avoid discrimination claims.
More than anything, you need robust D&O cover. For more information, contact ICB Group today.
The content of this Profile is of general interest and is not intended to apply to specific circumstances. It does not purport to be a comprehensive analysis of all matters relevant to its subject matter. The content should not, therefore, be regarded as constituting legal advice and not be relied upon as such. In relation to any particular problem which they may have, readers are advised to seek specific advice. Further, the law may have changed since first publication and the reader is cautioned accordingly.
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