Corporate Governance · glossary
Directors' and officers' liability insurance. It pays a director's legal costs and damages if she is sued for what she did in office. Brackenholme keeps cover of at least £10,000,000, renewed each April on terms the board approves (Schedule A, item 15). Charter §10.4 · Schedule A, item 15 · Chapter 2 · Chapter 9
Explained in Chapter 2, Matters Reserved and Delegation, of Corporate Governance.
The machinery items keep the board's own house in order. The risk appetite statement says which risks the company will accept, and the risk register lists the risks it faces. Terms of reference are a committee's written rules. D&O insurance pays a director's legal costs and damages if she is sued for what she did in office.Read Chapter 2, Matters Reserved and Delegation →
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