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Ensuring Corporate MisconductHow Liability Insurance Undermines Shareholder Litigation$
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Tom Baker and Sean J. Griffith

Print publication date: 2011

Print ISBN-13: 9780226035154

Published to Chicago Scholarship Online: March 2013

DOI: 10.7208/chicago/9780226035079.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 06 April 2020

Insurance Monitoring and Loss-Prevention Programs

Insurance Monitoring and Loss-Prevention Programs

Chapter:
(p.105) Chapter six Insurance Monitoring and Loss-Prevention Programs
Source:
Ensuring Corporate Misconduct
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226035079.003.0007

This chapter examines insurance monitoring and loss-prevention programs in the context of Directors' and Officers' liability (D&O) insurance. The findings reveal that D&O insurers neither monitor nor provide loss-prevention programs to the corporations they insure, and that, in the few cases that a loss-prevention advice is given, it is only done to promote or market the insurer rather than to constrain the conduct of the insured. The chapter provides an account for the absence of monitoring by insurers and highlights its implications, particularly moral hazard.

Keywords:   insurance monitoring, loss-prevention programs, D&O insurance, insured, moral hazard

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