Insurance broker Willis Group Holdings has launched its directors’ all risks cover (DARCstar) in Australia, Hong Kong and Singapore.
Conceinved in response to the increasingly challenging regulatory environment for company directors and officers, DARCstar’s D&O liability insurance starts from the premise that all liability risks faced by directors are covered.
“Recent legislative developments in Asia-Pacific reinforce the requirement for broad D&O protection," says Francis Kean, Willis Executive Director in FINEX Global, Willis’ executive risks practice. "Company directors will be pleased to know that a specific D&O insurance is available, which gives them certainty of indemnification, more focused cover for regulatory investigations and the peace of mind that all risks are covered unless specifically excluded.”
According to Tony Mitchell, Finex Leader in Asia Pacific, the risk profile for directors varies with geography and listing characteristics.
Common risks include, increased litigation, the desire to retain better independent directors, the risk of regulatory investigations, a lack of knowledge over indemnification provisions and the ability of the company to indemnify directors.