D&O claims to rise as probes into directors of insolvent firms surge
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James Wickes, partner at U.K.-based commercial law firm Reynolds Porter Chamberlain L.L.P.’s Professional & Financial Risks team, expects a rise in investigations into directors of insolvent firms for misconduct to drive an increase in director and officer’s insurance claims, Credit Connect reported. Mr. Wickes added that investigations into directors of insolvent firms have grown by 36% to an average of 193 per month between April 1 and Dec. 31, 2022 from an average 142 per month in 2021/22.
