QBE recently carried out some research among UK senior business leaders to determine the impact the past 18 months has had on the personal liability of directors and officers...
QBE recently carried out some research among UK senior business leaders to determine the impact the past 18 months has had on the personal liability of directors and officers. The research revealed that of those that have already had claims made against them in the past five years 72% of these claims occurred during the Covid-19 pandemic, while almost half (48%) of UK respondents feel their personal liability within their role has increased. Meanwhile 30% worrying that action taken and decisions they made during the pandemic could lead to claims being made against them.
Other key findings include:
- Respondents said that out of possible issues their business could face in the coming months, they were most concerned about experiencing an issue as a result of action the company took during the pandemic (30%)
- 7 in 10 expressed concerns that the pandemic had negatively impacted the risk profile of their organisations.
- The majority of senior leaders (64%) said their remit and responsibilities within their roles have increased in the past five years while Almost half (49%) said that they have felt under pressure over the past 18 months as a result of increased workload and responsibility
