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Member, Beacon International Group, Ltd.
India's insurance industry expects demand for directors and officers liability insurance to rise as rules under a new law has paved the way for class action suits and raised regulatory pressure on company boards and top management, among other things, Financial Chronicle reported.
A senior official of a general insurer said "we do expect more companies to buy D&O covers because of the stricter laws." The official said "recent incidents of top officials of some companies facing fraud and sexual harassment charges will make companies look at D&O policies."