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Individual liability podcast series: Episode 5

In the fifth episode, we examine the risks directors and officers of non-US domiciled companies face when it comes to a derivative suit filing in the US.

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22/02/2022

A legitimate concern for directors and officers, individual liability is a topic of regular discussion with our D&O liability insurance clients.

In this podcast series, we explore developing areas of individual liability with distinguished legal and underwriting experts.

Derivative lawsuits in US courts against non-US domiciled companies – an insurer’s point of view

In episode five we examine how the recent trend of derivative lawsuits against directors and officers of non-US domiciled companies is perceived by an insurer active in the UK D&O market.

Ben Barker, Head of Executive and Professional Claims for Berkshire Hathaway Specialty Insurance in the UK, looks at the recent history of derivative claims in the US, and the impact these types of claims have on the D&O insurance market, including the financial exposures that can flow from a sustainable derivative suit.

Key topics

  • Why the expectation of these settlements continuing, alongside the enduring frequency and severity of securities class actions, constitutes an ongoing concern for insurers.
  • The difference between derivative cases and securities class actions when thinking about the size and construction of a D&O tower, and the relevance of the move towards Side A only towers.
  • What these exposures mean for directors of non-US domiciled companies and their insurers – in terms of filings, and the reach of US courts.

To hear more about the real risks directors and officers of non-US domiciled companies face when it comes to a derivative suit filing in the US, listen to Ben’s discussion with Marsh UK’s Head of Management Liability, Stephanie Pestorich Manson.

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Related episodes

To listen to the other individual liability podcast episodes, please follow the links below:

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Episode 1 – Focus areas for 2021 and beyond
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Episode 2 – An underwriter’s view
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Episode 3 – Shareholder derivative suits against non-US companies in US courts
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Episode 4 – Defenses available to non-US companies sued derivatively in US courts

About our speakers

Ben Barker

Ben Barker

Head of Executive and Professional Claims at Berkshire Hathaway Specialty Insurance

  • United Kingdom

Stephanie Manson

Stephanie Pestorich Manson

Head of Management Liability

  • United Kingdom

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