D&O liability insurance gains traction in China
Posted On: May. 7, 2020 6:10 AM CST
More than 70 listed companies in China plan to buy directors and officers liability insurance for directors and supervisors this year after scandal-hit coffeehouse chain Luckin Coffee Inc. claimed $25 million in insurance coverage, Asia Insurance Review reports citing CapitalWatch. Luckin revealed last month that nearly half the revenue it reported in the last three quarters of last year, or more than 2 billion Chinese yuan ($282 million), was fake.