Board of directors liability is an ongoing concern for an organisation and its management. It can arise from a failure to satisfy a range of duties that determine how an organisation is to be governed. If these duties are not complied with, it may result in a claim that needs to be defended, often at great cost.
In this article, we will explore the concept of board of directors liability, and understand how it contributes to the risk faced by an organisation and its management.
Contents
1 Board of directors liability: A definition
2 The role of management
3 What is a director?
4 The duties of directors
5 What are the responsibilities of the board?
6 What is an officer?
7 The importance of effective corporate governance
8 The common types of liability
9 What are the consequences of a claim?
10 Protecting individuals with a directors indemnification agreement
11 Insurance: The last line of defence
12 Conclusion
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