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Risk in Context Podcast: Protecting leaders from escalating D&O risks

Discover how senior leaders, including directors and officers, can better manage evolving and escalating D&O risks.

02/24/2026 · 2 minute read

From established to emerging challenges, directors and officers are navigating an increasingly complex and uncertain risk environment shaped by shifting litigation trends, evolving regulatory priorities, and mounting operational, economic, and geopolitical pressures.

Confronted by this risk landscape, directors and officers liability (D&O) underwriters and corporate leaders remain alert to the potential for new claims and developing threats, such as private credit and AI washing. Increasing pressures underscore the importance of disciplined governance, thoughtful disclosure practices, and proactive risk management to help organizations remain resilient.

In this episode of Risk in Context, Paul Denny, Global Head FINPRO, Marsh Risk’s Financial and Professional Liability Practice, speaks with Deepak Adappa, FINPRO’s advisory leader in the US, and Will Fahey, US Private Company D&O Leader. They discuss some of the top risks that could impact organizations’ senior leaders and that should be watched closely throughout 2026 and beyond.

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Key takeaways

Emerging risks demand board-level diligence

New and evolving risks underscore the importance of proactive risk assessment and transparent disclosure at the board level, with thorough risk analysis and mitigation efforts critical to maintaining defensibility in potential D&O claims.

Private credit growth presents systemic risk concerns

The rapid expansion of private credit into a multi-trillion-dollar market, coupled with limited regulatory oversight, raises concerns about potential systemic financial risks, underscoring the need for heightened awareness and thorough due diligence.

Global divergence in regulatory focus adds complexity

While US regulatory enforcement of climate and cyber disclosures has softened, international jurisdictions are increasingly imposing stringent requirements, necessitating sophisticated risk governance to navigate varying regulatory landscapes and protect global companies’ senior leaders.

About our speakers

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Paul Denny

Global Head, FINPRO

  • United Kingdom

Paul Denny is the Global Head of FINPRO, Marsh Risk’s Financial and Professional Liability Practice, where he advises some of the largest global corporations, professional service firms, and financial institutions on how to develop innovative insurance programs that address financial and professional exposures, including directors and officers liability, professional liability, cyber, and related products. He joined Marsh in 1989 and has spent his career working within Marsh’s FINPRO Practice focused on executive liability and professional liability lines of insurance. Prior to his current role, he was CEO of FINPRO UK.

Deepak Adappa

Deepak Adappa

Managing Director, FINPRO

  • United States

Deepak Adappa is the FINPRO US Advisory leader. In this role, he helps to guide the go-to-market strategy for FINPRO products, including directors and officers, employment practices liability, fiduciary, crime, and special risk, as well FINPRO’s industry strategy. He also specializes in client service delivery for large private and public accounts in the global risk management space. He works with his clients to explore traditional and alternative risk management solutions. His primary area of expertise is publicly-traded US and global companies that have insurance programs placed in the US, European, and Bermuda insurance markets.

William Fahey

William Fahey

US Private Company D&O Leader

  • United States

Will Fahey is the Private Company D&O Product Leader for FINPRO. Based in New York, he is responsible for Marsh Risk’s product offerings for private companies as well as developing strategies and delivering solutions on behalf of Marsh Risk clients for directors and officers liability, employment practices liability, fiduciary liability, and crime insurance. His work with private companies includes advising private equity firms and their portfolio companies, including maximizing results for companies going public in a changing IPO marketplace. He is also the lead adviser to several large publicly traded commercial companies and financial institutions.

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