Risk Exposure for Directors and Officers
What’s in this report from Allianz Commercial:
Board members and company executives can be held liable for an increasing number of scenarios. Inadequate responses to economic pressures, geopolitical issues, implementing innovative technologies such as GenAI, or environmental, social and governance (ESG) challenges are among the main factors driving the possibility that a company and its directors and officers may be sued in 2024, according to Allianz Commercial’s D&O insurance report.
“The challenge for directors and officers for 2024 is to be prepared for headwinds,” said Jarrod Schlesinger, regional head of financial lines in North America at Allianz Commercial. “To not only be nimble but to have a strategy that can adapt when presented with an obstacle to the business. Diversity in the boardroom continues to allow companies to have varied approaches when presented with problems. To assist with the challenges ahead, the C-suite should push beyond the norm in their industry and allow themselves a better chance to be on the front foot for the future.”
A few key trends outlined include:
- Gloomy outlook prevails: Since the world eased out of lockdown from the Covid-19 pandemic, a new normal has not made daily challenges for…
