The Unlikely Pressure for Accountability: The Insurance Industry’s Role in Social Change
Document Type
Article
Publication Title
Texas Journal on Civil Liberties & Civil Rights
Journal Abbreviation
Tex. J. on C.L. & C.R.
Abstract
The summer of 2020 witnessed a national reckoning: the murder of George Floyd and the resulting unprecedented Black Lives Matter (BLM) protests. As the BLM movement gained unsurpassed traction, corporate America jumped to show support: Nearly 70% of the 500 largest companies made statements in support of racial justice and more than a third provided financial donations to racial justice organizations/causes. Countless companies made public promises regarding their commitment to diversity, equity, inclusion, and justice (DEIJ) within their organizations. However, companies have largely failed to live up to those promises. The result—a frenzy of diversity driven derivative suits against boards and officers for that failure. Although Director and Officer (D&O) insurance has insulated board and officer’s personal assets, the D&O insurance industry has taken notice of the enduring nature of diversity driven derivative suits. Along with social unrest comes the D&O insurer’s unrest; as premiums increase, limits are lowered, and coverage is dropped, the possibility of a new catalyst for accountability arises—the D&O insurance industry.
First Page
139
Last Page
177
Publication Date
2022
Recommended Citation
Angela N. Aneiros,
The Unlikely Pressure for Accountability: The Insurance Industry’s Role in Social Change,
27
Tex. J. on C.L. & C.R.
139
(2022).
Available at:
https://lawcommons.lclark.edu/faculty_articles/5003873