Preparing for Director Liability Risk Through Directors and Officers Liability Insurance
First written in FY2021. 1 of 3 entries say "Restated". Latest entry: FY2025.
- FY2025Change in premium burdenAnnual report
「The Company bears all premiums. All directors, including directors who are Audit and Supervisory Committee members, are insured persons under the policy.」
The directors and officers liability insurance policy continued, but the disclosure of the premium burden changed from 90% for the Company and 10% for the insured persons in the previous fiscal year to the Company bearing all premiums. - FY2024RestatedAnnual report
「The Company bears 90% of the premiums, and the insured persons bear 10%. All directors, including directors who are Audit and Supervisory Committee members, are insured persons under the policy.」
The directors and officers liability insurance policy and the premium burden of 90% for the Company and 10% for the insured persons were reaffirmed. - FY2021First statedAnnual report
「The Company has entered into a directors and officers liability insurance policy with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. The policy provides coverage for losses incurred by insured directors, excluding directors who are Audit and Supervisory Committee members, and directors who are Audit and Supervisory Committee members, arising when they are held liable in the course of performing their duties or receive claims relating to the pursuit of such liability. However, certain exclusions apply, including acts knowingly committed in violation of laws or regulations. The Company bears 90% of the premiums, and the insured persons bear 10%.」
A directors and officers liability insurance policy and a premium burden of 90% for the Company and 10% for the insured persons were identified for the first time.