In the following guest post, Umesh Pratapa takes a look at directors’ liability issues under Indian law, and also examines the protections that are available for directors as well. Umesh is a Consultant – Liability Insurance, in India. Umesh’s article was originally published in the July 2020 issue of “Director Today”, a monthly journal of the Institute of Directors (IOD), India. Reproduced with the kind permission of the publisher, Institute of Directors, India. I would like to thank Umesh for allowing me to publish his article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this site’s readers. Please contact me directly if you would like to submit a guest post. Here is Umesh’s article.
Continue Reading Guest Post: Director’s Liabilities: Prevention and Protection – Ports of Call for Relief

Umesh Pratapa

In the following guest post, Umesh Pratapa takes a look at the new Indian Consumer Protection Act, 2019. As Umesh discusses below, the Act not only has important implications for the rights of consumers, but it also has important liability insurance, product liability insurance, and professional liability insurance implications in Indian as well. Umesh’s article was originally published in BimaQuest September 2019 issue.  Reproduced with kind permission of the Publisher, National Insurance Academy, Pune, India. I would like to thank Umesh for his willingness to allow me to publish his article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Umesh’s article.
Continue Reading Guest Post: India: The Consumer Protection Act, 2019 – Exposures & Liability Insurance Protection

The D&O Diary’s overseas assignment continued this week with a stop in Mumbai, India’s financial capital. I was in Mumbai to participate in the annual Bima Gyaan Symposium, an educational and networking event for the professional liability insurance industry in India. As reflected in the pictures below, the event was once again well-attended and was a great success.
Continue Reading Mumbai Professional Liability Insurance Symposium

Umesh Pratapa

In the following guest post, Umesh Pratapa takes a look at the state of liability insurance in India. Liability insurance apparently is not yet widespread in India, for reasons that Umesh examines below.  Umesh also takes a look at the possible future for liability insurance in India. Umesh’s article was originally published in The Journal of the Insurance Institute of India (April – June 2019 issue).  EDITOR’S NOTE: The symbol “₹” is the sign for Indian Rupees.  A”crore” is a unit count of ten million in the Indian numbering system, abbreviated “cr.” A “lac” or “lakh” is a unit count of one hundred thousand in the Indian numbering system. I would like to thank Umesh for his willingness to allow me to publish his article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Umesh’s article.
Continue Reading Guest Post: Liability Insurance in India- Challenges and Opportunities- Way Forward

The Gateway of India

The D&O Diary’s Asia Pacific itinerary continued this week with a stop in India’s largest city and financial capital, Mumbai. My primary reason for traveling to Mumbai was to participate in a professional liability insurance program co-sponsored by PLUS and the local Indian professional liability insurance organization, Bima Gyaan. Despite the travel distances involved and the time required, my visit to India was relatively brief. My opportunities to explore Mumbai were limited. I had just enough touring time to be reminded what an amazing place Mumbai is.
Continue Reading A Visit to Mumbai

One of the most closely watched issues in the world of D&O is the extent to which cybersecurity-related issues will lead to liability for corporate directors and officers. In the following guest post, Tarun Krishnakumar, a New Delhi attorney qualified in India and California specializing on issues relating to emerging technology , takes a look at the corporate liability framework under Indian laws with respect to emerging cybersecurity exposures. I would like to thank Tarun for allowing me to publish his article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Tarun’s article.
Continue Reading Guest Post: Cybersecurity and D&O Liability: Emerging Concerns under Indian Law

It is now well known and understood that cybersecurity is a board level issue. This generalization is true not just for companies in the United States but for all companies around the world. In the following guest post, Joel Pridmore, Asia Pacific Underwriting Manager, Specialty, Corporate Insurance Partner, Munich Re Group, Saket Modi, CEO of Lucideus Technologies Pvt Ltd, and Richa Shukla, Partner, Khaitan Legal Associates take a look at this issue, with a particular focus on concerns for Indian companies. I would like to thank the authors for allowing me to publish their article as a guest post. I welcome guest post submissions from responsible authors on topics of interest to this site’s readers. Please contact me directly if you would like to submit a guest post. Here is the authors’ guest post.
Continue Reading Guest Post: Cyber Risk: A Board Level View

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Umesh Pratapa

In the Companies Act 2013, India’s parliament incorporated a provision allowing for the “compounding” of offenses. “Compounding” is a way for an accused violator to avoid litigation. It is a settlement process by which the accused pays a fee instead of undergoing prosecution. In the following guest post, Umesh Pratapa takes a look at the Companies Act’s compounding provisions, and examines the question of the availability of D&O for amounts paid in a compounding process. I would like to thank Umesh for his willingness to allow me to publish his article here. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Umesh’s guest post.
Continue Reading Guest Post: India: Compounding of Offences under Companies Act 2013 – D&O Insurance

Richa Shukla

Nilam Sharma

Joel Pridmore
Joel Pridmore

As readers of this blog know well, liability claims against corporate directors and officers is an increasingly global phenomenon. A number of different factors are contributing to the globalization of D&O liability, including legislative changes, changes in regulatory enforcement activity, and the rise of litigation financing. In the following guest post, Richa Shukla of Khaitan Legal Associates, Nilam Sharma of Nilam Sharma Ltd., and Joel Pridmore from Munich Re, Australia, examine the changing environment for D&O liability in India. I would like to thank Richa, Nilam, and Joel for allowing me to publish their article on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Richa, Nilam, and Joel’s guest post.
Continue Reading Guest Post: A Focus on Directors’ and Officers’ Risks in India