Addressing Director Liability Risk Through Directors and Officers Liability Insurance
First written in FY2021. 1 of 2 entries say "Advanced", first in FY2024. Latest entry: FY2024.
6 other companies' latest entry also says "Advanced".
- FY2024AdvancedAnnual report
「The insured persons under the insurance contract are the Company’s directors, including Audit and Supervisory Committee Members, and executive officers. The insured persons do not bear the insurance premiums.」
Coverage under the directors’ and officers’ liability insurance was extended from directors to executive officers, and the scope of measures addressing officers’ liability risk was specified. - FY2021First statedAnnual report
「The Company entered into a directors’ and officers’ liability insurance contract with an insurance company as prescribed in Article 430-3, paragraph 1 of the Companies Act. The contract provides coverage for losses arising from damages claims brought against insured persons. However, certain exclusions apply, including losses arising from acts committed while the insured person was aware that the act violated laws or regulations.」
The Company entered into a directors’ and officers’ liability insurance contract covering its directors and disclosed the arrangements for covering losses arising from damages claims.