Solidarity General Takaful Company, a subsidiary of Solidarity Group Holding, hosted a seminar on the impact of the global financial crisis on Directors and Officers (D&O) Liability Insurance.

The seminar included interactive presentations by two senior executives from Chubb Insurance, a recognised worldwide leader in D&O Liability Insurance.

Solidarity General Takaful Company general manager Gopi Rao said the seminar was organised in line with Solidarity's long-standing commitment to playing a pioneering role in contributing to the development of the Bahrain's takaful industry.

'D&O Liability Insurance policies protect individual directors and officers,' said Rao.

'This type of product is gaining greater prominence, in the current context, due to increased corporate governance requirements as well as also due to scrutiny of board level decisions.

'The underlying logic and the main motivator behind D&O insurance is the fact that the interests of any company and consequently its shareholders are best served by knowledgeable directors and officers, who can take strategic risks based upon the information reasonably available to them without the threat of personal liability.

'In so protecting them, companies are better able to attract qualified directors and officers to manage the operations of the company.

'This, in turn, translates to better returns for company shareholders as well as increased contributions to the community with, for example, improved productivity, the creation of new jobs and the advancement of products and services.'-TradeArabia News Service