Addressing Liability Risks for Officers and Employees Through Directors’ and Officers’ Liability Insurance
First written in FY2021. 1 of 2 entries say "Restated". Latest entry: FY2025.
- FY2025RestatedAnnual report
「The insured persons under the directors and officers liability insurance contract are directors, corporate auditors and managerial employees of the company or its subsidiaries, employees alleged to have acted in conspiracy with them, and their spouses and statutory heirs. The company bears the full amount of the insurance premiums paid during the consolidated fiscal year.」
The company continues its policy of providing coverage under directors and officers liability insurance for officers, managerial employees and others of the company and its subsidiaries. - FY2021First statedAnnual report
「The company has entered into a directors and officers liability insurance contract with an insurance company as provided for in Article 430-3, Paragraph 1 of the Companies Act, both to secure outstanding personnel as officers and other positions and to prevent officers and others from becoming excessively concerned about potential liability for damages arising from the performance of their duties and consequently becoming reluctant to perform those duties. The insurance contract will cover, up to a limit of ¥500 million, losses arising when an insured person faces a claim for damages in connection with the performance of their duties.」
The company has entered into a directors and officers liability insurance contract covering directors, corporate auditors, managerial employees and others, and has described for the first time its policy of covering certain claims for damages.