임원배상책임보험에서의 보험사고에 관한 고찰

A Study on the Risk Covered In the Directors' and Officers' Liability Insurance

These days it is emphasized that there are ensuring the sound finance of market and protecting the investors in the world and those is connected with the intensification of monitoring directors and officers. It makes competent persons avoid the status of directors and officers or hesitate constructive management that directors and officers are monitored and confronted with expanded liability exposure. In other words, directors' and officers' liability reinforcement is worthwhile in capitalistic system operated on the basis of corporation's production only when it balances their appropriate protection. So far, however, it were insufficient the financial protection systems that could immunize or limit directors' and officers' responsibilities in Korea. As a result, corporations are purchasing Directors' and Officers' Liability Insurance(D&O insurance) which protects the directors and officers from personal liability. To satisfy the requirements of coverage the following on D&O insurance policy in korean must be true; (1) directors and officers must be acting in their respective capacities as such; (2) a claim must have been made against the insured during the policy period; (3) the insureds must have experienced a loss which the insured is legally liable and that arises out of a clam. Therefore, it is important how are interpreted those requirements in the D&O policy. However, there are not the definition of 'claim' in the D&O insurance policy in korean. For this reason, it is expected some disputes related to the construction of 'claim'. I thought that this 'claim' means not only a civil proceeding but also a criminal proceeding.