IGREA GENERAL SHAREHOLDERS’ MEETING
On March 29, IGREA held its General Shareholders’ Meeting in Madrid to approve its 2016 accounts, taking the opportunity to address the following topics of interest:
- Roundtable under the heading “D&O insurance conflicts and dilemmas”. Constanza Gállegos (General Manager at QBE), Benedetta Cossarini (General Manager at AIG), Estefanía Taboada (Financial Product Underwriting Manager at XL) and Luis Alfonso Fernández (Partner at Hogan Lovells) all participated, moderated by Augusto Pérez Arbizu (Chairman of IGREA).
The difference between cautionary measures, civil and criminal liability bonds in addition to the different ways of posting them were addressed at the event. The special nature of the Spanish legal system was also discussed, as part of which civil liability results in criminal procedures, in addition to trends in recent lawsuits and court rulings. All the above led to an interesting debate, with members discussing conflicts that these matters pose to insurers, policy holders and insured parties.
- Preliminary conclusions of the Board of Directors on “Incident management quality parameters”. The board based its conclusions on a report drafted by IGREA’s Advisory Board.
Ultimately, an agreement was reached to update the “Incident Management Best Practices“ guide, originally edited by IGREA, including parameters that target quality measurements.