The changing global market is making international businesses take a fresh look at their directors’ and officers’ (D&O) liability insurance, according to international broking giant Willis.

Its latest discussion webcast has highlighted how D&O is no longer a necessity only in the litigation-happy US. Companies like Parmalat (Italy), Hyundai (South Korea) and Multiplex (Australia) know that regulatory transgressions by senior staff can mean painful repercussions in any jurisdictions they do business in.

Despite these issues, it is still very difficult to obtain a single D&O policy to cover all international staff and operations. Willis Executive Risks Practice D&O Product Leader Ann Longmore says there are several policy-wording issues at stake.

“The question may not be whether your policy will pay, but where it will pay.”

She says companies designing a global D&O program need to prioritise their efforts according to countries that create the biggest concerns.