Lloyd’s underwriters seek to halt £45m legal cover for Petrofac bribery defendants Insurance A group of Lloyd’s syndicates have sought to block £45m in defence funding for two former Petrofac executives facing a criminal bribery trial. The group of syndicates provided directors’ and officers’ (D&O) insurance coverage to Petrofac’s former chief operating officer, Marwan Chedid, and former chief operations officer George Salibi. Chedid and Salibi rely on Petrofac’s [...]
The evolving D&O risk landscape Partner Growing management liability exposures and rising claims have increased the focus on effective D&O policies backed by effective D&O insurance carriers, ensuring company directors and officers are adequately covered for these risks. Amid continuing economic uncertainty, company directors and officers (D&Os) are under increasing pressure to keep their businesses profitable and continue making returns to [...]