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Index

Note: Page numbers in bold indicate tables
ABC policy see Side A coverage; Side B coverage; Side C coverage
advancement of defence costs , , –, , , , , ; access to ; allocation of defence costs as precondition to –; to the company –; by Conduct exclusion clause, admission –; by Conduct exclusion clause, final adjudication or judgment –; contractual requirement to –; in duty to defend –, ; in duty to indemnify –; good faith during –; during internal investigation –; larger settlement rule ; pre-policy nondisclosure –; provisions –; refusal of –; right of recoupment –; during self-investigation ; by Severability clause –

Airbus SE –, –, , , , ; action taken against individual(s) –, –; offences

Airline Services Ltd ; action taken against individual(s) ; offences

allocation of defence costs , ; advancement provision ; Reasonably Related Defence Costs Test in –

“all-or-nothing” approach , ,

Amec Foster Wheeler Limited –, –; action taken against individual(s) ; amending statement of facts –; anonymising statement of facts and judgment , ; offences

anonymisation , , –, , , , , , –; de-anonymised judgment , , –, , , ; individual identities , ; order , , , ; re-anonymised , ; statement of facts , , , –,

anonymity , , , ; within documentation ; in drafting , ; of individuals ; level of ; tools

Arthur Andersen LLP –

assisting offender: cooperation agreements as –; immunity notice –; reduction in sentence –; restricted by Companies Act 2006 –; restricted use undertaking –

attribution , ; of director ; of liability ; principles , , ; restrictive method of

Beazley difference-in-conditions (DIC) policy , –, , , ,

“big five” accounting firm

blanket notifications –, , , , –, –,

Bluu Solutions Limited –; action taken against individual(s) , ; amending statement of facts –; anonymising statement of facts and judgment , , –; de-anonymised judgment ; joint DPAs ; offences , –, ,

breach of duty , , –, , , ; claims for , –, ; directors’ , , , –, , , , , –, , , ; of disclosure or failure ; of fair presentation , , ; fiduciary duty , ; of utmost good faith ,

breach of trust , , , , ,

breach proceedings , –, , ; threat of ; United Kingdom –; United States –

Brooklyn Plan

business decision , , ,

Checkpoint programme (United Kingdom) –

circumstance investigation costs , ,

civil claims/proceedings –, , , , –, , , , , ; adverse judgment in , , ; for breach of directors’ duties –, ; Claim definition ; consequences of , ; defence costs in –, ; hearsay evidence in , ; within jurisdiction ; open ; opportunity to ‘vindicate his reputation’ in ; and policy composition –; securities-related ; third-party , , , ,

civil liability , , , –; individual DPAs based on ; self-report to prosecutors to ; United States , –,

Claim definition , , , , ; criminal proceedings within , , , ; investigations within , –, , , –, –; Related Claim definition –

Claims cooperation (Cooperation) clause , , –, , , –

Claims made policy –, , , ; notification of Claim under –; notification requirement under –

Competition and Markets Authority (CMA)

Conduct exclusion clause –, , –, , , , , ; admission , , –, –, , –, , , , –, ; DIC policy –; final adjudication or judgment , –, –, –, , –, , ; internal investigation –,

confidentiality , , , ; breaching ; club , , ; DPA negotiations , , , , , ; loss of ; notification –; obligations , , ; pre-negotiation confidentiality undertaking , , , , , , , –, , , , ; reasonable expectation of ; requirements , ; restrictions , ; written

conflicts of interest , , –, , –

contemporaneous advancement principle , ,

Contract exclusion clause , , , , –, ,

contract of insurance , , –, , , , –,

convention judiciaire d’intérêt public (CJIP)

corporate criminal liability , , –; flawed standards

corporate DPAs , , , , , , ; advancement of defence costs ; allocation of defence costs –; benefits of ; colossal costs involved in ; duty to self-report ; on individuals –; named individuals , ; protection from prosecution –, –; on related individuals ; severability clause –; unenforceable ; United Kingdom –, , , , –; United States –, –, , , ,

corruption , –, –, ; alleged ; with death penalty , ; substantial international

Crime and Courts Act 2013 (CACA 2013) , , , , , ; breach proceedings ; challenge ; civil proceedings ; condition of (avoidance of) breach ; coverage under Side C –, , , –; documentation ; DPA Code ; exclusion of DPAs for individuals ; individual DPAs ; individual offenders, exclusion of ; notice of discontinuance ; preliminary hearing ; pretrial diversion programmes ; prosecutor's publication of documentation ; self-reporting ; variation of DPA terms

criminal liability , , , , –, , , ; breach of duty ; D&O policy and ; insolvency practitioners ; minimal exposure to , ; in overseas jurisdictions ; United Kingdom –; United States –, , ; see also corporate criminal liability

criminal offence , , , ; charged with , ; detection or prosecution of –, ; director convicted of –, ; directors’ ; low-level ; suspected

criminal proceedings , , –, , –, , , , , , , , , ; against Barclays PLC ; Claim definition , , , ; completion of ; contemplated ; defence costs in , –, , , ; against directors ; inclusive of ; indemnification for ; individuals , , , , , , ; interpretation of –; mitigation in ; open court ; overseas , , ; reinstatement of ; Related Claims clause ; resuming –; self-report in , ; SFO related ; use of DPA material in

criminal prosecution –, , , , ; director’s ; individuals ; for offences

Crown Prosecution Service (CPS) DPA , , , , , ; Entain plc , ; leniency written notice/agreement ; Skansen Interiors Ltd –

D&O insurance , –; advancement of defence costs –; Claim definition see Claim definition; Claims made

Conduct exclusion clause see Conduct exclusion clause; confidentiality ; Contract exclusion clause see Contract exclusion clause; coverage

directors’ coverage –; European ; history of –; indemnification –; knowledge of insured –; Loss definition , –, –, –, –, –, , , , , , ; market response to DPAs –; nature of , –; notification of Circumstances , –; notification of Claims –, –; origin of ; policy construction –; precontractual obligations –; preservation of directors’ protection –; Related Claims clause see Related Claims clause; securities-related claims , ; self-report see self-reporting; severability –; in US , –

data protection , –,

Davis, Justice William , ,

de-anonymised judgment , , –, , ,

defamation ; claims , –; defined

derivative action see derivative claim

derivative claim , –,

directors’ duties , , , , , ; acquiring and maintaining sufficient knowledge –; acting within powers ; avoiding conflicts of interest , , –, , –; breach of duty see breach of duty; under Companies Act 2006 –; cooperating with insurer ; declaring interest in proposed transaction/arrangement –; duty to act as member ; duty to company to act in way –; duty to defend policy see duty to defend policy; duty to indemnify

exercising powers “only” for purpose –; exercising reasonable care, skill, and diligence ; fiduciary duty ; informing prospective insurer ; liability –; notifying insurer ; notifying regulators , ; promoting success of company , ,

DPA negotiations , , –, , , , –, , ; advancement of defence costs –; completion of ; confidentiality , , , , , ; defence costs , –; desirability of entering –, –, , ; directors involvement in ; director with knowledge of –; disclosure of fact of , –, –; documentation from third parties during ; duty to indemnify policy –; failed ; indemnification obligations during ; information by company during ; invitation to enter , –; joint privilege during ; other evidence during , , , ; pre-negotiation and negotiation period –; pre-negotiation confidentiality undertaking , , , , , , , –, , , , ; principle of open justice ; privilege against self-incrimination during ; -related activities ; self-reporting for , ; statement of facts, drafting of –, –, –; successful ; wrongdoing individuals in

duty of fair presentation , ; breach of , , ; disclosure obligations within , , , , ; of risk –,

duty to defend policy , –, , , ; construction of –; defence costs in –, ; disputes in ; legal representation appointed in

duty to indemnify policy –, , , , –, ; advancement of defence costs in –, –, –, ; construction of –; DPA negotiations –; rights of subrogation

E&O insurance

Entain plc ; action taken against individual(s)

Equality Impact Assessment

European Court of Human Rights (ECtHR) –, –, , , –

European D&O

Financial Conduct Authority (FCA) , , , , , –,

financial penalty , , , –; indemnification of ; payment of ,

Financial Services Authority (FSA) see Financial Conduct Authority

G4S Care & Justice Services UK –, –; action taken against individual(s)

Garnier, Lord Edward

good faith , , –, , , , , –, –, ; during advancement of defence costs –; breach of duty and ; encouraging , ; general interpretative principle , , ; identifying those substantially involved and reported information , , , , ; rights of subrogation , ; right to withhold consent , ; see also utmost good faith

Great Fire of London (1666)

Güralp Systems Ltd –; action taken against individual(s) ; anonymising statement of facts and judgment ; naming in documentation , ; offences

hearing ; in camera ; final (open) , , ––, –, –, , , , ; plea , ; preliminary –, , –, , –; right to fair ; United Kingdom –; United States

hearsay evidence ; admissible , , , , ; in civil proceedings , ; defined ; statement of facts as , ,

Holder Memorandum (1999) ,

identification principle –; breach of ; establishing of , ; offence , , , –, –, , , ; suspected offence based

illegality doctrine , ; see maxim ex turpi causa non oritur actio

immunity notice , –, ,

Increase of risk clause ,

indemnification , , , , , , ; ability to obtain ; for civil claims ; of company for costs –; Contract exclusion clause –; corporate , , , , –; coverage under Side B –, –, , ; coverage under Side C , –, –; for covered loss ; for criminal proceedings , ; for defence costs –, , , ; for directors and officers ; for financial penalties , ; for internal investigations ; obligations , , –, , , –; public policy for , , –; refusal of

indemnity insurance contracts: in fourteenth century , –, ,

Independent Press Standards Organisation (IPSO)

individual DPAs –; action against individuals –; based on civil liability ; consideration of –; Securities and Exchange Commission using , ; targeting individuals –; third-party individuals ; United Kingdom –, , –, , ; United States –, ,

individual liability

individuals, naming ; anonymity, level of –; guidance on ; offences, types of –; risk of prejudice in –; statement of facts and judgment, anonymising –

insider information –; defined ,

Insured vs Insured exclusion clause –, , ,

Insuring Agreement A see Side A coverage

Insuring Agreement B see Side B coverage

Insuring Agreement C see Side C coverage

internal investigation , , , –, , –, , , ; advancement of defence costs during –; Conduct exclusion clause –, ; costs ; disclosure of ; indemnification ; report , ; as scoping measure –; self-reporting and –

Interrelated Wrongful Acts , –, ,

jigsaw identification –; anonymity and ; measures to avoid ; occurrence of ; realities of ; risk of , –,

joint DPAs , , , , , –

joint privilege –, , ,

larger settlement rule ,

legal advice privilege ,

legal professional privilege (LPP) –, –, , , ; access to defence –; during criminal investigation ; law on ; waiver of , , ,

leniency: justice to pursue ; measures –, , , ; opportunity to pursue ; policy , –; provisions –, , –, ; written notice/agreement –,

Leveson, Sir Brian , , , , –, –, , –,

limit of indemnity , , , , , ; aggregate , , , , , , ; companies , ; defence costs within ; directors , ; preservation of –; shared ; Side A coverage –; Side B coverage –; Side C coverage , , –

litigation privilege ,

Lloyd, Edward –,

Loss definition , , , , ,

marine insurance: first ; law –; in United Kingdom , –

Marine Insurance Act of 1906 (MIA 1906) , –, –, ,

Marshall, Simon ,

maxim ex turpi causa non oritur actio , , , , –, , , , , –

McNulty Memorandum (2006) ,

Ministry of Justice (MoJ) ,

Mitigation Costs , ,

Monaco Memorandum (2021, 2022) –, ,

naming in documentation: amendment of ; of convicted individual –; Güralp Systems Ltd , ; implicated individuals ; of individuals see individuals, naming; interests to avoid ; Sarclad Limited ; statute and guidance of –, ; of unindicted co-conspirators see unindicted co-conspirators, naming; United Kingdom –; United States –, ; unjustifiable approach to ; see also anonymisation

New Lloyd’s

nondisclosure and misrepresentation , , , –, , , ; fraudulent ; impact of , –; of one co-insured ; pre-policy –; refuse advancement on –

non-duty to defend policies , ,

non-indemnity insurance

notice of discontinuance , ; publication of –, ; for terminating DPA ,

notification: blanket –, , , , –, –, ; of Circumstances , –, , , , –, , ; of Claim , , , ; of investigation , , , , , , , , ; requirement –, –; self-report –

OECD Working Group on Bribery

open justice principle , –, –, , ,

Order/Priority of Payments clause , ,

Osofsky, Lisa ,

“other evidence” –, –, ,

personal financial protection insurance ,

plea agreement , , , , –

precontractual obligations –

pre-investigation costs

pre-negotiation confidentiality undertaking , , , , , , , –, , , ,

pre-policy nondisclosure

pretrial diversion program (PDP): categories –; deferred prosecution –; national standards for ; United Kingdom –, ; United States –, –,

Prior Claims and Circumstances exclusion –, –,

private information, misuse of –, , –, , –, –

privilege against self-incrimination –, , ; defined –; in legal proceedings and investigations ; in personal proceedings ; powers –; through real evidence exception ; right to fair trial and , ; self-report –, ; Sweett Group PLC –

protection from prosecution , , –, ; Airbus SE ; Amec Foster Wheeler Limited ; Bluu Solutions Limited , ; Entain plc ; G4S Care & Justice Services UK ; Güralp Systems Ltd ; Rolls-Royce Plc ; Sarclad Limited ; Standard Bank Plc –; Tesco Stores Ltd ; Tetris Projects , ; see also assisting offender

public policy , , , , , ; for indemnification , , –; reasons ,

reasonable expectation of privacy , , –, –

Reasonably Related Defence Costs Test –

recoupment of defence costs , –, , , –, ; advancement of defence costs –, , ; demand for , ; of sums paid , ; United Kingdom

reduction in sentence , , –; alternative of ; in multijurisdictional investigations –

Related Claims clause , –, , , , , , , ; breach proceedings ; danger of –

restricted use undertaking –

restrictive method of attribution see identification principle

Retroactive clause –, –,

right to defence ; access to defence –; civil proceedings –; company's ability to obtain DPA –; DPA approved materials, use of –; DPA not approved materials, use of ; individuals , ; individual's waiver of documentation, obstructing ; statement of facts –; see also legal professional privilege; see also privilege against self-incrimination

right to fair trial , , –, , , , , ; abuse of –; distinct notion from ; employees ; privilege against self-incrimination , ; safeguard to protect ; scope of

Rolls-Royce Plc –, , ; action taken against individual(s) ; offences ; self-report ; targeting individuals

Sarclad Limited , , , ; action taken against individual(s) ; claim of privilege ; naming in documentation ; offences –; protection from prosecution ; self-reporting

scapegoatism

Scotland –

securities-related claims , , –,

self-disclosure ; see also self-reporting

self-insured retention ,

self-reporting , , , , –, –, , , ; Airline Services Ltd ; Barclays –; Barclays context –; in best interests –; Bluu Solutions ; business decision , , , ; civil liability ; corporate , , –, , , –, ; criminal investigation and –; in criminal proceedings , ; decision to ; discretion in ; example of ; incentivisation to –, ; incomplete , , , ; incriminating ; individual liability and ; internal investigation and –; legal advice as to –; major disincentive to ; notification ; pre-DPA investigation and , ; risk exposure of –; Rolls-Royce Plc , ; Sarclad Ltd ; Section 172 –; self-incriminating ; SMEs ; Sweett Group PLC ; totality of ; United Kingdom ; United States –; voluntariness of

Self-Report Investigations ,

senior managers , –

Serco Geografix Ltd , , , , ; action taken against individual(s) , ; offences

Serious Fraud Office (SFO) agreements , ; see also specific agreements

severability , , , , , , ; Interrelated Wrongful Acts and Related Claims –; policy construction –; Severability in exclusions clause , , , ; Severability of Application clause , , ,

Side A coverage –, , , , , , ; company –; devaluation of ; difference-in-conditions policy , –, , , , ; directors –, –; directors’ protection –; in DPA-related scenario ; former directors , ; individuals insured under –; insured vs insured exclusion ; limit of indemnity –; policy structure –; risk of depreciation

Side B coverage , , , , ; company –; directors ; in DPA-related circumstances –; ex turpi causa non oritur actio –; indemnification –, –, , ; investigation costs ; limit of indemnity –; policy structure –

Side C coverage –, , , –, , , , ; admission by company director ; Claim definition ; company –; directors , , ; in DPA-related circumstances –; indemnification , –, –; insured entity under , ; insured vs insured exclusion ; limit of indemnity , –; securities-related claims –; Side A DIC coverage –

Society of Lloyd’s

Standard Bank Plc –, , ; action taken against individual(s) , ; anonymising statement of facts and judgment , ; non-convicted directors in –; offences –; statement of facts

statement of facts: Airbus SE –, –; Amec Foster Wheeler Limited , , –; amending –; anonymisation , , , –, ; Bluu Solutions Limited , , –, –; Conduct exclusion, admission –; Conduct exclusion, final adjudication or judgment –; Güralp Systems Ltd ; as hearsay evidence , , ; imputed to director –; insured to disclose, failure of –; internal investigation and self-report –; policy construction and severability –; Rolls-Royce Plc ; Sarclad Limited ; Standard Bank Plc , , , , , –, , –, –; use of –

strict liability offences , , , , –

subrogation rights –, –, ,

Sweett Group PLC –

Tesco Stores Ltd , , , , , , , , ; action taken against individual(s) , ; amending statement of facts , , –, ; naming in documentation ; non-convicted directors in ; offences

Tetris Projects Limited –; action taken against individual(s) , ; amending statement of facts –, ; anonymising statement of facts and judgment , –; de-anonymised judgment , ; joint DPAs ; offences , –, ,

Thompson Memorandum (2003) , , –

Turning-Point project (Birmingham)

UK–EU withdrawal agreement

underwriters, defined

unindicted co-conspirators, naming –, , ; in court judgment –; in factual resume , ; in grand jury indictment , ; identification within pre-trial documentation ; in public criminal trials ; statement of facts and judgment ; third parties ; United Kingdom –; United States –,

Uni-Pixel Inc

United Kingdom DPAs –, , –, , –, , , –; action against individuals –; allocation of defence costs ; breach, challenge, and variation –; breach of duty, claims for ; cases –; Checkpoint programme –; civil proceedings ; company's ability to obtain ; consideration of individuals DPAs –; corporate DPAs –, , , , –; criminal liability –; Crown Prosecution Service see Crown Prosecution Service; data protection ; for directors –, , ; documentation –; DPA Code ; duty to defend ; final adjudication or judgment –; final hearing ; financial crisis ; history of –; identification principle offences ; immunity ; individual DPAs –, , –, , ; individual liability ; insurance in , –, see also D&O insurance; judgments ; naming in documentation –; negotiation period –; notice of discontinuance , –; operating framework ; post-contractual breach of duty ; preliminary hearing –; pre-negotiation period –; preservation of limit of indemnity –; pretrial diversion programme –, ; privilege against self-incrimination ; process –; reduction in sentence , –; related claims ; right of recoupment ; self-reporting , , ; Side B coverage , ; statement of facts and judgment , , ; targeting individuals –; United States vs. ; see also specific agreements

United States DPAs , , ; action against individuals –; Boeing , –; civil liability , –, ; civil proceedings –; cooperators, use of ; corporate DPAs –, –, , , , ; corruption investigations ; criminal Information ; criminal liability –; D&O insurance in , –, see also D&O insurance; for directors –, , ; individuals DPAs –, , ; model –; naming in documentation –, , ; pretrial diversion program –, –, ; privilege against self-incrimination ; reduction in sentence –; self-reporting –, , ; targeting individuals –; United Kingdom vs.

US Justice Manual (US Attorney's Manual)

US Securities and Exchange Commission (SEC) , –, ,

utmost good faith –, , ; breach of duty , ; consequence of ; obligation of ,

waiver of privilege , , ,

Woods, Nicholas ,

Wrongful Act , ,

Yates Memorandum (2015) –, ,

Yu Kai Yuan –

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