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Shannon Chamber CEO Helen Downes pictured at the D&O insurance event with the Aon team (from left): Peter Brady, Head of Risk Capital, Aon; Edwina Ryan, Managing Director and Kieran Dillon, Director, of Aon Ireland’s Professional Services team; and Kate Fitzpatrick, Head of Aviation. Photograph by Eamon Ward

Shannon Chamber, in collaboration with Aon, hosted a highly informative workshop at Ei Electronics Centre of Excellence, focused on deconstructing Directors & Officers (D&O) insurance and highlighting its growing importance for companies and their leadership teams.

The event, delivered by Edwina Ryan, managing director, and Kieran Dillon, director, of Aon Ireland’s Professional Services team, provided a deep dive into the legal responsibilities of directors and showed why protecting their personal liability is so critical in today’s business environment.

At a time of increasing regulatory scrutiny and higher standards of corporate governance, it provided valuable insights into the risks directors and officers face, and how D&O insurance gives them and their organisations essential protection.

“Growing risks, including increased regulatory scrutiny on directors and officers, makes protecting leadership essential for every organisation. With a robust D&O insurance policy in place, directors and officers can make daily business decisions with confidence that their personal assets are not at risk in the event of a claim”, Edwina Ryan said.

Their presentations set out to address a significant knowledge gap identified in a pre-seminar survey, which revealed that while many companies rely on their broker, risk advisor, or counsel to explain and interpret their D&O protection, 100% of survey participants had not previously taken part in D&O-focused training or a board simulation.

Attendees were guided through the fundamentals of D&O insurance, including how policies are structured and what they are designed to cover. It showed that D&O insurance protects individuals, when claims arise from decisions made in their capacity as directors or officers.

The workshop also examined how indemnification from the company interacts with insurance cover, outlining where potential gaps can occur and why a well-structured policy is essential. Delegates gained insights into the critical importance of understanding policy wording, including definitions, exclusions, and conditions that can significantly affect the scope of protection in real-world scenarios.

Key insights from the event included the ‘house versus job’ protection, whereby D&O insurance is designed to protect a director’s personal assets when a company cannot or will not provide indemnification. It was also explained that under the Companies Act 2014, company constitutions cannot indemnify directors for negligence or breach of duty, rendering D&O insurance cover critical.

It was also pointed out that coverage is determined by the policy active at the time a claim is notified, not when the wrongful act occurred and that late notification can lead to a claim being declined, hence directors being encouraged to notify their brokers once they are aware of a potential claim.

A key feature of the session was its practical focus. Speakers outlined the steps directors should take when facing a claim, common mistakes that can jeopardise cover, and the level of support they should expect from insurers and advisors.

In addition, the session addressed areas of heightened exposure for directors, including recent regulatory developments such as the Individual Accountability Framework (IAF), which is increasing personal responsibility and risk for those in senior leadership roles.

The event was designed for executive and non-executive directors, board and committee members, senior executives, and professionals responsible for purchasing or managing insurance. Attendees left with practical takeaways, including key questions to ask about their current D&O cover and a clearer understanding of their personal risk exposure.

Shannon Chamber CEO Helen Downes said that by hosting events of this nature, the Chamber is supporting its members to navigate complex business challenges.

“Governance training is so essential now as the rules are stricter, the risks are higher, and directors are more personally accountable than ever before. The quality of information delivered by the Aon team will ensure that, at a time of increased regulation and oversight, greater personal accountability for directors, and the widening range of risks companies now face, attendees at this event fully understand the necessity of having D&O insurance.”

Check out event gallery here