The Financial Services Group at Aon has published the nineteenth edition of the Year in Review, which covers notable legal and claims developments in 2022, as well as trends to watch in 2023. This edition includes case summaries of decisions involving executive liability lines of coverage, including professional liability, cyber-related matters, and general insurance issues as well as corporate governance and securities law.

The full year 2022 securities class action filings are listed in the report and hyperlinked to the corresponding case information contained in the Stanford Law School Securities Class Action Clearinghouse. The number of filings was down slightly in 2022 compared to 2021. However, the number of settlements and values did increase, with eight settlements of over $100 million.

Environmental, social, and governance (ESG) also continues to be an emerging topic, and in the U.S., much of the D&O related litigation involved companies that took initiatives in the ESG space but allegedly fell short of their targets. Trends include greenwashing, as well as a backlash against ESG in the regulatory arena. Certain lawsuits also allege a breach of fiduciary duty against directors and officers because a company’s diversity, equity, and inclusion programs allegedly violate civil rights laws or are otherwise discriminatory.

The 2022 Legal & Claims Review is available here.

Contact

Discuss the report with Financial Services Group professional Jacqueline Waters.



Jacqueline Waters
Managing Director & Practice Leader
Chicago

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