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What are the main risks for company directors and officers in their professional activity in Portugal?
José Limón Cavaco, Partner in the Insurance and Reinsurance department at CCA Law Firm, answered the question at the third ‘Fórum Nacional de Seguros 2024’ [National Insurance Forum] organised by ECO Seguros and ZEST, in partnership with CCA.
He emphasised three main categories of risk for managers and directors: liability to shareholders, regulatory liability and criminal liability, the latter being the most frequent in the activation of D&O insurance policies in our country.
‘Directors live in a perilous balance: on the one hand, due to the nature of their duties, they have to take risks; on the other hand, they run the risk of being held liable by shareholders, the regulatory authority or the State,’ says the CCA partner.
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