Exclusive D&O Policy for Online Companies
Cross-border Internet services are generally recognised as legally highly problematic with applicable laws varying from jurisdiction to jurisdiction.
In response, PC&L created the first insurance policy worldwide exclusively specialised on D&O insurance in the online service sector taking these issues into consideration.
That renders us to offer the world's leading D&O policy specified in providing financial protection for the directors and officers of online companies in the event that international lawsuits are brought against the directors/officers, either individually or collectively.
The following example emphasizes a particular indemnity problem for UK companies:
Company X, a UK based online company, accepts residents of country Y as customers. A director of company X, is in country Y accused of offering services in breach of local laws. Even if company X would have the financial resources to cover the legal costs of defending the director, it would be disallowed under English law to do so and the director would need to cover the associated legal costs out of his personal assets.
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