任員등의 賠償責任保險金融商品에 관한 法的 考察

A Study on the Director"s and officer"s Liability Insurance

  Since the economic crisis 1997, the law and practice related to the liability of corporate directors in Korea have gone through dramatic changes, though the amendment of provisions on the control and accountability of corporate directors, including shareholder suit, corporate directors can be sued more easily than before. Shareholders have bringing more and more derivative suits, and some courts have ordered corporate directors to pay big damages.   As the situation, mentioned above, changes, the thought that directors" liability must be lightened has been spreading in the academic world researches on this matter, however, have primarily been limited to the business judgement rule or directors" and officers" liability insurance. There is no treatise on whether the corporation can support for the defendants-directors.   Korean commercial law commentators have not dealt with this question seriously the discussion of the pros and cons over whether to authorize corporation" s participation focuses two questions. There is no statutory basis for indemnification in our statute, and in fact it has not been utilized. However, when a director is actually sued, the expenses can be extremely burdensome there is no statutory basis for directors" and officers" liability insurance(D&O Insurance) in the Commercial Code or other laws, but it is already widely used as a practical device to alleviate the liability of directos. Corporations have paid more and more insurance Premiums for their director.