BELRIM – CHUBB Exchange – D&O and Product Recall
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The last decade has seen significant changes affecting Directors and Officers (D&O) risk following the 2008 global financial crisis. Increased legislation and greater regulatory scrutiny in the United States and in other key centres for business, has prompted a sharp increase in litigation against companies and their Directors and Officers.
Significant regulatory reform, the growing willingness of courts and regulators to hold individuals accountable, an increasingly active and engaged shareholder pool and a heightened compensation culture, have all led to D&Os facing a constantly evolving set of exposures – including regulatory fines, criminal sanctions, civil liabilities and collective and shareholder claims.
Furthermore, we are seeing increased regulatory activism arising from risks such as climate change, cryptocurrency and other areas which threaten criminal exposure for multinational companies and personal liability for its D&Os.
It is therefore important to understand the value of local insurance policies in multinational insurance programmes and how building the right programme with both local and master policies offering robust cross-border insurance protection.
Kyle Bryant – Head of Financial Lines, Continental Europe
Suresh Krishnan – Head of Major Accounts Division, Chubb Europe
All industries, being it Food & Beverage, Automotive, Consumer goods or Life Science…. all are regularly confronted to having to recall products following the discovery of safety issues which might endanger the consumer.
This process, called Recall, would it be decided internally or requested by a third party, is very costly and should be very well managed to be a success.
Let’s have a look together at the backgrounds and causes of recalls, at how it is managed would it be a “first” or a “third” party recall, and on the financial impact on the business.
From an insurer perspective what is the situation and what are their potential solutions for the various industries?
Johan Broeders – Casualty Manager, Chubb Benelux
Marie-France Theys – Corporate Risk & Insurance Manager (EMEA), Scheider Electric
Bart Smets – Head Insurance & Risk, Umicore
As CHUBB is a “title sponsor” of this prestigious event, we can combine the Belrim Exchange with a guided tour to the exhibition.
More information via the following link: Interclassics Maastricht
REGISTRATION IS POSSIBLE UNTIL 10/01/2020