Transparency and culture awareness were the key takeaways from a panel discussion on top directors and officers’ claims trends that took place at this year’s Professional Liability Underwriting Society (PLUS) annual conference in San Diego.
An audience poll at the start of the session set the tone for the discussion. The top three topics chosen by attendees included the #MeToo movement and data breach and privacy-related D&O claims.
Public, private firms and non-profits all face these new risks, said Kevin LaCroix, executive vice president of RT Specialty and the moderator of the discussion. Publicly-traded companies, including 21st Century Fox, Wynn Resorts, National Beverage, CBS and Papa John’s have all faced D&O lawsuits arising from sexual misconduct allegations. Private firms, like The Weinstein Co., aren’t immune to these types of suits either.
According to Cathy Padalino, senior vice president of Aon’s National Products Group, there has been a 12 percent increase in Equal Employment Opportunity Commission (EEOC) charges related sexual harassment.
Claims of sexual harassment will gradually widen to pay equity and gender inequality, the panelists said….
