DAC Beachcroft's D&O and FI newsletter features topical issues for our clients and contacts
The UK’s Online Safety Bill: Watch out D&O Insurers!
The OSB is the UK’s draft legislation for regulating online content. It seeks to introduce robust new measures to protect the safety of its online users, including granting Ofcom the power to impose significant fines should companies fail to comply with the new rules. We consider this new legislation and whether this creates a new D&O exposure for companies.
Directors of group companies- can a parent company director also be held a de facto director of the subsidiary company?
Claimant law firms are working hard to develop routes for holding parent companies and their boards responsible for trading activities carried out through subsidiary companies.
The recent decision in Aston Risk Management v Jones and others provides clarity on when a registered director of a parent company can be found to be a de facto director of an operating subsidiary.
Corporations must be alive to the growing threat of climate litigation
The growth of climate litigation in the UK and internationally has been exponential. Claims are being prosecuted to force changes in boardroom behaviour, insulate businesses from climate risk and accelerate the transition to net zero. We explore recent UK cases in this emerging risk area.
Stranded Assets: Could Insurers be left high and dry?
The transition to a low carbon economy carries both opportunities and risks. One of the risks is the stranding of assets, affecting companies and insurers, both in terms of investment and claims.
Developments in the regulation of crypto assets- if not the Financial Conduct Authority then who?
The House of Commons Treasury Committee says the cryptoasset industry remains a "wild west" and has called on the Government to expedite regulation, proposing that retail trading and investment in cryptoassets be treated as gambling rather than a financial service due the significant risks for consumers resulting from price volatility and exposure to losses. Our article considers regulation of this market in more detail and looks at what is happening in the EU and the US as well as the UK.
Banking turmoil sparks threat of a 2023 global financial crisis
The first 6 months of 2023 has seen the global banking industry go through its biggest turmoil since the 2008 Global Financial Crisis. We explore the implications of rapidly rising interest rates, proposals to relax the banking regulations, and the insurance implications following bank failures.
Social Housing (regulation) Bill and its implications for landlords' D&O insurers
Social Housing (Regulation) Bill, which will bring in a tougher regulatory regime for social landlords and drive up standards for those living in social housing, has received broad support as it progresses through the legislative process and it is expected to become law by autumn 2023. We explore what this new legislation will mean for D&O insurers.
Unfair prejudice petitions: perils and pitfalls
Sometimes known as a “corporate divorce”, unfair prejudice petitions are a remedy available to company members . We explore the issues that can arise in these claims and the implications for company directors who are often personally named respondents to unfair prejudice petitions.
