Liability underwriters are split over the possible effects on directors' and officers' (D&O) cover of a corporate manslaughter law would promised by government on Tuesday.
Some underwriters said that the law could increase premiums by up to 20%. While others said that the law would simply duplicate existing legal provisions and would, therefore, have little effect on risk and premiums.
One D&O underwriter said that a corporate killing law would further discourage talent from taking up directorships and, therefore, leave boards with less expertise.
D&O underwriting manager of Royal & SunAlliance's professional and financial risk team Paul Wells said that a new law would be very difficult to draft and pinning responsibility to a single individual would be hard to do.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
