X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The U.S. government’s push to enforce the Foreign Corrupt Practices Act in recent years has left corporations on the defensive. Being charged with violating FCPA, which forbids paying bribes to foreign officials, can mean big fines or criminal charges, and even an FCPA investigation can be costly. Beauty products seller Avon Products, which began an FCPA investigation in 2008, reportedly has run up $122.5 million in legal costs related to the investigation to date. Such expenses may not be covered by directors and officers liability insurance, either. Generally, D&O coverage must be triggered by some type of charge, which may be missing in a preliminary investigation, and D&O policies do not cover the company itself. Now a couple of insurers are addressing that gap.

In July, insurance brokerage Marsh announced a new policy, FCPA Corporate Response, that covers the cost of investigations for the company and individuals.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.