Directors & officers insurance in sports: A guide to risk protection in an evolving industry

In today's complex sports industry, directors and officers face unprecedented scrutiny of their decision-making and conduct. This article provides a practical guide to Directors' and Officers' (D&O) insurance, examining how it protects both companies and their leadership from the risks inherent in sports sector governance, and provides guidance for acquiring and claiming under such policies.

Article overview:

• Introduction: the growing complexity and oversight of the sports sector
• The specific legal risks facing directors and officers
  • Claims against directors
  • Directors’ duties
  • Duties upon officers
• How does D&O insurance work?
• Key points to know about D&O insurance
  • Available coverage extensions and supplementary protections
  • Scope of personnel coverage and protected individuals
  • Dishonesty and fraud exclusion parameters
  • Treatment of fines and penalties
  • Understanding aggregate policy limits
  • Official investigations coverage triggers
  • Insured versus insured exclusion considerations
  • Policyholder cooperation requirements
  • Claims notification protocol and timing requirements
  • Internal communication and contact procedures

This article follows on from the author’s general introductory article that explains the importance of insurance to the business of sport^[1] and the discussions that took place at the Global Summit in October.