Complex compliance, tax and coverage issues surrounding the purchase of directors and officers liability cover by multinational companies are addressed in a new guide published today by the International Underwriting Association.

Rules determining whether an insurer can underwrite D&O cover in a country where it is not licenced vary from jurisdiction to jurisdiction and in some cases it is strictly prohibited.

Chris Jones, director of legal, underwriting and claims at the IUA, said: “Our guide is designed to highlight questions that firms should ask to ensure that they receive the D&O coverage they require and expect. There are many countries, for example, where insurers would face challenges in seeking to pay D&O claims if they are not licensed or admitted locally.”

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