Legal Focus: UK's Economic Crime Bill creates new exposures for companies, executives and their insurers
As the new offence of failing to prevent fraud widens the pool of culpability, insured entities may seek extended Side C cover under a D&O liability policy and/or cover under their civil liability insurance regarding claims for their failure to prevent fraud
New corporate criminal offence of failure to prevent fraud will ultimately shift the burden of combatting economic crime onto large organisations - and D&O insurance policies will need to adapt
