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Underwriters Weigh InTM Survey
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Q10
Who is the most critical person at a company when you think about mitigating D&O risk?
2025 Survey Results:
For the third year in a row, underwriters think it’s the CEO who is the most critical person at a company when it comes to mitigating D&O risk.
Woodruff Sawyer Commentary
The survey results point to the importance of a singular strong executive at the top. Much of the commentary, however, actually focused on the CFO and the board.
Underwriter Comments
It seems the worst situations happen when companies financially become more desperate. If a CFO can mitigate that part of risk, the remaining issues are more businessrelated that happen [when] acting in good faith, as opposed to desperate bad actors when the house is crumbling financially acting more criminally.
As the ultimate governing body of any company, the most critical role is the board.
Don’t put celebrities on your board unless it’s a pizza business and [a major sports star] is available.
The biggest issue a company faces is how quickly they can work out that the facts around their business have changed and how quickly they can communicate this to investors. The CFO is absolutely critical when it comes to managing this process.
I think the board has the ultimate opportunity to choose the leaders. If they want higher-risk (from a D&O liability perspective) leaders because they think they are the best for the company, that’s perfectly rational. Underwriters just need to price the business accordingly.
CEO sets the tone. Everything else flows from that.
[I]t starts with the CFO.