There has been a growing exposure for companies and directors outside the US both in civil and criminal actions, according to AIG Europe (UK).
At its corporate governance seminar delegates heard that while US Securities class action litigation is at a 10-year low, sources of potential litigation elsewhere are wider than ever.
Andre Basile, vice president, management liability, financial lines, AIG Europe (UK), said: “There has been a proliferation of suits against directors and officers around the world because the costs for bringing actions can now be shared or subsidised. We are seeing the effects of this already in the recently enacted German legislation and the increased popularity of litigation funding firms in Australia.”
