The Egyptian insurance Union predicted that North America will dominate the global insurance market for managers (D&O) and board members, during the period 2020-2030, due to the high dependence on
Insurance of directors and board members
Across various commercial enterprises, the presence of well-established wealth companies, and the presence of major service providers in the region.
In its weekly bulletin, the union added that the analysis of the global share of the insurance market for directors and board members (D&O) was based on coverage, end user and region, dividing the market into employment practice lawsuits, regulatory investigations, customer cases, accounting irregularities and claims of other stakeholders.
The federation pointed out that the market is classified into public institutions, private organizations and non-profit organizations, as the geographical distribution and analysis of each sector includes regions including North America, Europe, Asia-Pacific and the Western countries of the world.
The Bulletin pointed out that the liability insurance of directors and board members D&O is one of the most discussed and least understood insurance products, while this type of insurance protects the rights of all parties and forms a shield of protection for shareholders ‘ rights, especially in companies or institutions with a large volume of business, and in turn, managers bear responsibility for their decisions, as they are right and wrong.
He pointed out that the consequences of the wrong decision are legal damage, as the risks of reputational damage and financial loss always need a defense mechanism to protect managers against lawsuits or claims of investors and competitors or employees and suppliers.
