Study Of The Directors’ And Officers’ Liability Insurance

Director’s And Officers’ liability insurance, refers to directors, senior managementpersonnel in the course of their duties to the company, shareholders and third party damagecaused due to breach of duty of loyalty or duty of care be held personally accountable by theinsurer to bear the civil liability insurance.Director’s And Officers’ liability insurance originated in the United States and theprosperity of the common law countries. Director’s And Officers’ liability insurance in theeighties and nineties, the introduction of civil law countries and common law countries, civillaw countries, the Director’s And Officers’ liability insurance is not yet developed. Director’sAnd Officers’ Liability Insurance Systems of common law countries, especially the visits ofAmerican directors liability insurance system, to explore the legal basis and the promotion ofthe directors’ liability insurance in the United States applicable to the reality of the Director’sAnd Officers’ liability insurance, the insurance system so as to liability of directors in Chinathe development of reference.Director’s And Officers’ liability insurance is intended to protect the interests of thedirectors and officers, especially in the context of the phase separation of companyownership and control, corporate governance structure gradually changed by theshareholders’ meeting center to Board centrism, the company’s investors graduallywithdrawing from the business management of the company, replaced by professionalmanagers with professional management knowledge and experience. In order to transfer therisks associated with the management company of professional managers need to director’sand officers’ liability insurance. However, director’s and officers’ s liability insuranceprofessional liability insurance as a transplant from abroad to our country, having a decade,but the director’s and officers’ s liability insurance as a transfer of the directors of businessrisk, reducing the working pressure of Directors of the insurance system was praised in alisted company. Why the legal system which is confirmed its role in Western countries do notget the favor of the majority of the directors and senior management? The ancients said:"Orange Health Huainan, compared to Orange, Orange Health Huaibei trifoliate orange",transplanted from abroad to learn from the director’s and officers’ liability insurance in ourcountry facing the development of the legal system obstacles and practical predicament.The transplant system is bound to face in the transplantation of a foreign legal system,legal system, thus the reference to the transplantation of "localization" thinking"acclimatized" in China. Director’s And Officers’ liability insurance system,"localization" isthe top priority of this article. By contrast to the situation of the development of China and the United States director’s and officers’ liability insurance, the predicament of facing thereality of our current directors liability insurance development and the deletion of the relatedlegal system, further research should be the development of the director’s and officers’Liability insurance system to create a kind of reality, and how to improve China’s legalsystem.