In the current economic landscape, more organisations are recognising the importance of restructuring in order to enhance their competitiveness. But any process missteps could expose senior leaders to potential litigation.
The heightened risk environment underscores the importance of a robust directors and officers liability (D&O) insurance program that provides protection for both the business and its senior officers. With greater market competition, there are opportunities for businesses to secure more preferential D&O rates and explore coverage enhancements that could provide more extensive protection.
In this episode of Risk in Context, Kerri Petri, Growth and Industry Leader for Marsh’s FINPRO Practice in the US, speaks with Stephanie Manson, the Head of Management Liability within Marsh's UK FINPRO Practice, Matt McLellan, Marsh’s D&O Product Leader in the US, and Alan Kornberg, a senior advisor within Marsh's Turnaround and Restructuring Group. They discuss current restructuring trends and actions that organisations should consider for a more effective restructuring process, including the importance of a robust insurance program. They also share their expectations for the D&O market in 2024 and talk about the changing regulatory environment.
Growth and Industry Leader, FINPRO
United States
Kerri Petri is the Growth and Industry Leader for Marsh’s Financial and Professional Practice (FINPRO). Located in Marsh’s Boston office, her field of expertise includes directors and officers liability, errors and omissions, cyber, fiduciary liability, employment practices liability, kidnap and ransom, crime, and employed lawyers.
Head of Management Liability
United Kingdom
Stephanie Manson leads the management liability team in Marsh’s FINPRO Practice in London. In this role she leads a team of over 100 management liability specialists and has a broad overview of all segments of D&O, EPL, PTL, and commercial crime insurance placed in the UK. She advises boards of directors and risk managers on D&O market issues and the ever-changing legal and regulatory developments in management liability.
Senior Advisor, Turnaround and Restructuring Group
United States
Alan Kornberg is a Senior Advisor within Marsh's Turnaround and Restructuring Group, where he works with clients contemplating in- or out-of-court restructuring processes. Before joining Marsh he led the restructuring practice at a major New York-based law firm, representing a diverse range of clients spanning numerous industries in chapter 11 cases, cross-border insolvency matters, out-of-court restructurings, bankruptcy-related acquisitions, and insolvency-sensitive transactions and investments. He draws on his decades of experience in the restructuring field to help Marsh’s clients continue to have the risk protection they need in challenging circumstances.
This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change. LCPA 24/014
