The economy is continuing to present some significant, still unresolved, challenges for private company directors and officers, including the ongoing threat of bankruptcy, experts say.
At one time or another, private companies have had to cope with issues including inflation, labor shortages, higher interest rates and the supply chain, said Sandra Lagana, Hartford-based private D&O product manager for Travelers Cos. Inc. Each of these is relevant, “and a lot of uncertainty continues to exist in the economy, and this makes it especially challenging for private businesses,” she said.
Ms. Lagana was among speakers at a session on how private companies are adapting to economic conditions during a session at the Professional Liability Underwriting Society’s D&O symposium on Wednesday. Speakers observed that private-company D&O policyholders range from small mom-and-pop businesses to unicorns, private companies that are valued at more than $1 billion. (Click Here to Read More…)
