Responsibility for insuring directors and officers is increasingly falling to heads of legal in small and medium-sized companies, according to the results of this month’s Legal Director poll. At the time of year that many companies are renewing and re-negotiating the terms of their insurance policies, Legal Week has carried out a poll of senior in-house lawyers that shows the costs of directors and officers’ (D&O) insurance levelling out, following pre-Higgs report concern about soaring premiums.
A third of respondents said they had the task of sorting out D&O insurance for the board, often as part of a wider brief to handle insurance function in their company. Those in-house lawyers who said they did have responsibility for insurance were generally employed at smaller companies, where roles are more broadly defined among a company’s senior executives.
