Rising Edge D&O Podcast Rising Edge D&O Podcast

In episode 22 of the Rising Edge D&O Podcast, Richard and Owen are joined by Daniel Shamah, Partner at law firm O’Melveny & Myers, and Andrew Oldis, Partner at law firm Kaufman, Borgeest & Ryan.

As practitioners of D&O insurance working out of the UK, we deal with worldwide risks, including those emanating out the US.

Insolvency has always been a key risk for directors and officers, and with macroeconomic conditions pushing more companies to the brink, we expect to see increased risk in this area.

The process and risks arising from such an event vary across the globe, and it is important for practitioners and insureds to understand the nuances that exist from one jurisdiction to another.

In this episode we unpack the process that exists within the USA.

We discuss the interplay between the bankruptcy and arguably one of the most important assets for a director during an insolvency or restructuring event, the D&O insurance policy!

00.23 - 03.10: Richard and Owen introduce the topic and our guests.

03.15 - 11.24: Daniel explains what Chapter 11 in the US is and how it differs from other forms of bankruptcy.

11.24 - 13. 00: Owen and Daniel discuss the speed and complexity of US bankruptcy court proceedings.

13.00 - 23.58: Daniel and Andrew explain how D&O insurance comes into play in a bankruptcy event.

24.00 - 30.10: The trio discuss how insurance policies are increasingly being tailored for bankruptcy events and why that is helpful.

30.11 - 34.10: Daniel and Andrew explain how directors and officers and can mitigate the impact of decisions during bankruptcy proceedings.

34.11 - 36.00: Andrew discusses the role of the board of directors change during a bankruptcy and the key responsibilities during the process.

36.01 - 40.40: Andrew explains the role of outside counsel when representing a company in bankruptcy, how they can be helpful for individual directors and officers and the emotions and stress involved for Ds and Os.

40.41 - 42.49: Andrew gives his tips for how to manage the communication and relationships with various stakeholders during a bankruptcy event.

42.50 - 51.47: Daniel and Andrew share their important trends for insurers, directors and officers to consider in 2024 and why the ongoing Purdue Pharma Supreme Court case is so significant for future bankruptcy proceedings.

51.51 - 55.13: Owen shares his takeaways from the interview with Andrew and Daniel.

For more information on Rising Edge, visit our website.

The full archive of the Rising Edge D&O Podcast is available here.

In episode 21 of the Rising Edge D&O Podcast, Richard, Owen and Isabel are joined by James Wickes, partner at the law firm RPC, to discuss social mobility and what businesses in the financial services and legal sectors can do to drive change.

James took on the challenge of driving change himself when he founded Limitless London, a careers guidance programme which aims to level the playing field for young people from less privileged backgrounds.

Learn about the programme James has set up, the challenges he faced in setting it up, how he overcame those challenges, and you how to go about starting up and executing on such an initiative.

They find out what can be done to level the playing field, to attract the best talent, and to make the insurance industry a more diverse and inclusive place to work. And how organisations and individuals help to drive the change that is required.

For more information on Rising Edge and the full back catalogue of podcast episodes, visit the Rising Edge website.

Sarah Podro, London Senior Adviser and Collective Conciliator from the UK’s Advisory, Conciliation and Arbitration Service (ACAS), speaks to Owen, Isabel and Richard about the importance of Early Dispute Resolution.

Sarah shares her expertise on the world of resolving conflict at work from the government department in charge of Early Dispute Resolution in the UK.

Timestamps

00.23 - 03.06: Owen and Isabel introduce Sarah, the topic, and why it is of interest to Rising Edge.

03.11 - 05.02: Sarah explains the kinds of disputes she gets involved in as a collective conciliator, and people's awareness of unions and pay disputes.

05.02 - 08.31: Isabel asks Sarah to share how she prepares when entering a dispute and the differences between conciliation and mediation.

08.31 - 12.48: Sarah explains the role of the conciliator, and how the process plays out in practice.

12.48 - : 15.24: Sarah discusses the difference between collective conciliations and individual conciliations.

15.24 - 17.47: Isabel asks Sarah what a party to conciliation needs to do to get the most out of the process.

17.47 - 21.00: Owen and Isabel quiz Sarah on how maintains neutrality when conciliating pay disputes.

21.00 - 25.15: Sarah explains why a dispute may be deadlocked and how it can be unlocked.

25.15 - 28.51: Isabel asks Sarah what can push a conciliation off track.

28.51 - 29.47: Sarah explains how often she gets involved after a first failed conciliation.

29.47 - 33.19: Isabel and Sarah discuss the impact of the Covid-19 pandemic on the conciliation process.

33.19 - 34.38: Sarah gives her perspective on the trends she is observing in collective conciliation.

34.38 - 36.10: Sarah tells us the best and most challenging parts of being a conciliator at ACAS.

36.10 - End: Owen and Isabel share their key takeaways from the discussion with Sarah.

For more information on Rising Edge visit the website, and for the full Rising Edge D&O Podcast archive click here.

Ever wondered if your board needs a corporate health check?  In episode 19 of the Rising Edge D&O Podcast, Richard and Owen discuss this very topic with Jeremy Irving, Partner and Head of Financial Services at law firm Browne Jacobson.

Jeremy is also joined by Philippe Gouraud, CEO of Rising Edge, and Isabel Alvarez, a Rising Edge board member but also head of HR, talent & communications.

Timestamps

00.23 – 02.38: Richard and Owen introduce the episode, topic and guests.

02.43 – 04.50: Jeremy outlines some of the challenges facing corporate UK on equity, diversity and inclusion (EDI) , and what role a board has to play.

04.50 – 07.22: Jeremy shares indicators and specific examples of when a board is not operating effectively.

07.22 - 08.48: Philippe and Jeremy debate the roles and responsibilities of directors on working in the interests of shareholders, while making the correct business decisions strategically day-to-day.

08.48 - 09.38: Jeremy explains why board effectiveness is important for corporate governance and the overall success of an organisation.

09.38 - 13.18: Jeremy talks through the process of a board effectiveness review, the methodologies what what can prompt one taking place.

13.18 - 17.37: Jeremy talks through common challenges that boards typically face in terms of effectiveness and how they can be addressed.

17.52 - 19.13: Philippe asks Jeremy if there are distinctions to be made between public and private companies on corporate governance and board effectiveness requirements.

19.14 - 23.08: Jeremy shares best practices and strategies to improve board effectiveness, and how often a review should be considered.

23.08 - 27.24: Philippe and Jeremy discuss the possibility of producing a risk rating or index to benchmark board effectiveness of organisations for the benefit of D&O underwriters.

27.25 - 28.54: Jeremy explains who should have the responsibility to implement a board effectiveness review.

28.54 - 37.56: Philippe, Jeremy and Isabel discuss the assessment of non executive director (NED) performance, objectivity and term limits.

37.56 - 41.50: Philippe and Isabel explain why Rising Edge chose to go through the board effectiveness review process and what they learned from it.

41.54 - End: Richard and Owen reflect on the episode and Owen shares his key learnings from the discussion.

For more information on Rising Edge visit the website, and for the full Rising Edge D&O Podcast archive click here.

Do we talk enough about how to mitigate D&O risk? Join us for our discussion with risk and insurance expert, Julia Graham, CEO of Airmic. We delve into the intricacies of managing the constantly evolving intangible risks relevant to directors and officers. As underwriters of D&O risk; are we doing enough to help, are we asking the right questions, and what is it we should be asking that we don’t?

Timestamps

00.24 – 03.50: Richard and Owen introduce the episode, topics and guests – Julia Graham, CEO of Airmic, and Philippe Gouraud, CEO of Rising Edge.

02.34 - 03.50: Richard explains what a captive is, and their relevance to the D&O discussion.

03.55 – 05.32: Philippe explains what D&O underwriters can learn from the property market and what he means by the “sprinkler for D&O”.

05.32 – 07.20: Julia discusses the development of risk management principles for D&O and increasing intangible risks.

07.20 – 09.21: Julia explains why soft skills, such as communication and learning, are key to D&O risk management in the boardroom.

09.29 – 11.00: Owen explains why organisational culture is important to mitigating D&O risk.

11.00 – 12.25: Julia says companies who take the value of their brand very seriously are usually more successful on managing D&O risk, while those with experience of a claim can provide valuable insight.

12.56 – 15.25: Julia shares what she believes are the most prominent emerging risks for D&O, including ESG and AI, and how they should be considered and addressed.

15.26 – 18.35: Philippe provides the Rising Edge perspective on whether a ‘good’ ESG rating equals a good D&O risk, and how he views AI risks.

18.35 – 21.09: Philippe and Julia debate how ESG, cyber and AI have become mainstream topics in governance and the challenges they present in the boardroom.

21.10 – 25.12: Julia and Philippe discuss their experience as captive board members and the importance of D&O cover for directors of captive insurance companies and what questions they should be asking of their D&O policies.

25.12 – 28.47: Owen asks Julia to share her views on the D&O underwriting process, whether the relevant questions are asked and what other questions she recommends.

28.53 – End: Richard and Owen reflect on the episode and Owen shares his key learnings from the discussion.

In this episode, Julia references the Airmic Captive Governance Guide, which includes discussion on D&O insurance in the context of captive insurance.

For more information on Rising Edge visit their website, and for the full Rising Edge D&O Podcast archive click here.

Episode 17 of the Rising Edge D&O Podcast is the second instalment of Owen's discussion on corporate governance with Sarah Bell, Partner at Grant Thornton in London, and Rising Edge CEO Philippe Gouraud.

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