Having sufficient director and officer insurance has always been a worry for senior executives, but lately the focus of that concern has expanded to include compliance officers.
Credit (or blame, depending on your perspective) the vital role these compliance officers have today. The more important they are, the greater the risk they may be dragged into a lawsuit for various actions they do or don’t take while on the job. “You can’t say for certain, but a compliance officer would have made a difference in corporations like Enron, Worldcom, Tenet, and Hewlett-Packard,” José Tabuena, head of compliance at MedicalEdge Healthcare Group, said at the Society of Corporate Compliance and Ethics annual conference in September.
