Disciplinary liability of insolvency officers: current challenges

Education of senior house officers: current challenges.

Over recent years several factors have impacted upon the education of doctors in training in medicine and other specialties. These factors include the European Working Time Directive and shift patterns of working, increasing service demands, changes in the examination and assessment processes, and clinical governance issues. In addition, over the next few years further changes will take place w...

Insolvency and Biased Standards - The Case for Proportional Liability

We analyze liability rules in a setting where injurers are potentially insolvent and where negligence standards may deviate from the socially optimal level. We show that proportional liability, which sets the measure of damages equal to the harm multiplied by the probability that it was caused by an injurer’s negligence, is preferable to other existing negligence-based rules. Moreover, proporti...

Directors’ and officers’ liability insurance and the cost of debt

Using hand-collected data on directors’ and officers’ liability insurance (D&O insurance), we analyze the effect of D&O insurance on the cost of debt. We find that higher levels of D&O insurance coverage are associated with higher at-issue bond yields (to maturity) and higher loan spreads. This evidence suggests that debtholders view D&O insurance coverage as increasing credit risk (potentially...

What Went Wrong with Directors' and Officers' Liability Insurance?

Directors' and officers' liability insurance and acquirer returns