Directors and officers (D&O) of US corporations that operate overseas are facing ever-increasing exposures to lawsuits in countries such as China, France, Germany, Italy, Sweden and the UK. These new exposures have raised questions about the possible need for locally admitted D&O policies, priority lists of D&O coverages and services, and the need for a better understanding of international exposures that could lead to reduced claims and improved claims trends outside the US. Both of these developments -- global expansion and the subprime crisis -- were addressed in February in two separate panels at the annual PLUS D&O Symposium in New York City. Most of the D&O claims activity overseas has been in the areas of accounting procedures, tax requirements and regulatory compliance, said the panelists. All of the panelists agreed that it is premature to predict how much the subprime mortgage situation or credit crisis will ultimately cost.
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