Management of Directors’ and Officers’ Risks through D&O Liability Insurance
First written in FY2021. 2 of 3 entries say "Restated". Latest entry: FY2024.
- FY2024RestatedAnnual 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. The policy covers damages, legal fees and other losses incurred by insured persons as a result of claims arising from acts, including omissions, performed in the course of their duties as company officers.」
The company reconfirmed the directors and officers liability insurance contract and the policy of excluding criminal acts and intentional violations of laws and regulations from coverage. - FY2023RestatedAnnual 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. The policy covers damages, legal fees and other losses incurred by insured persons as a result of claims arising from acts, including omissions, performed in the course of their duties as company officers.」
The company reconfirmed the directors and officers liability insurance contract and the policy of excluding criminal acts and intentional violations of laws and regulations from coverage. - FY2021First statedAnnual report
「The company has entered into a directors and officers liability insurance contract with an insurance company as stipulated in Article 430-3, Paragraph 1 of the Companies Act. The contract covers damages, legal expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, committed in the course of their duties as company officers. The company bears the full cost of the premiums. In addition, the company has taken measures to ensure that the proper execution of officers’ duties is not impaired by excluding from coverage damages incurred by officers themselves in connection with criminal acts, such as bribery, or intentional violations of laws and regulations.」
The company introduced an insurance contract covering directors’ and officers’ damages, legal expenses and other costs, while also addressing the proper execution of their duties by excluding criminal acts and intentional violations of laws and regulations from coverage.