In her article linked below, Noona Barlow of AIG gives interesting insights into recent claims developments and risks facing directors and officers and, thus, their insurers, including from the likes of cyber, #MeToo and modern slavery.

In my view, (potential) cyber incidents and their ramifications for corporate governance are of particular importance on a global level. Considering for example the GDPR and the specific requirements for the implementation of data management systems in its Articles 24 et seq, it is evident that directors bear responsibility to implement sound governance systems to protect against, respond to and manage cyber incidents, and, failing such measures, might face liability, especially in places like Germany where the typical D&O claim is one brought by the company against its own directors.

I think Noona Barlow makes an important point that these developments underline the need for D&O insurers to change and meet the new challenges, involving wordings, underwriting and risk dialogues as well as claims handling.