Addressing Director Liability Risk Through Directors and Officers Liability Insurance
First written in FY2021. 1 of 2 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「This insurance covers damages and litigation expenses incurred by an insured person as a result of claims for damages arising from acts, including omissions, carried out in the course of the insured person’s duties as an officer of the company in イ. However, to ensure that the proper performance of duties by officers and others is not compromised, the policy excludes losses incurred by an officer who has committed a criminal act, such as bribery, or intentionally engaged in unlawful conduct. The Company bears the entire insurance premium.」
The Company has reconfirmed the arrangement under its directors’ and officers’ liability insurance covering directors and audit & supervisory board members, under which damages and other costs are covered while criminal acts and intentional unlawful conduct are excluded. - FY2021First statedAnnual report
「This insurance covers damages and litigation expenses incurred by an insured person as a result of claims for damages arising from acts, including omissions, carried out in the course of the insured person’s duties as an officer of the company in ①. However, to ensure that the proper performance of duties by officers and others is not compromised, the policy excludes losses incurred by an officer who has committed a criminal act, such as bribery, or intentionally engaged in unlawful conduct. The Company bears the entire insurance premium.」
The Company has disclosed a directors’ and officers’ liability insurance policy covering directors and audit & supervisory board members. The policy covers damages, litigation expenses and other costs, while excluding criminal acts and intentional unlawful conduct from coverage.