Former IPP Director Goh Jin Hian Liable for US$146 Million in Losses
- Rayvern Chng
- Oct 20, 2024
- 1 min read
$100 million is a dream for many people and yet we have company directors losing this amount in bad decision
If you saw the news recently, you may have seen this news:
In a recent ruling by Singapore's High Court, former IPP director Goh Jin Hian was held responsible for US$146 million in losses incurred by his company. The case underscores the significant financial risks directors and officers face in corporate leadership roles.
Directors & Officers (D&O) Insurance plays a critical role in protecting individuals like Goh. If he had D&O insurance, it could have covered legal defense costs, settlements, or judgments related to negligence or mismanagement claims.
This type of insurance offers protection against personal financial exposure when a director's business decisions lead to significant company losses. D&O coverage ensures that directors and officers can defend themselves in legal cases without facing potential personal financial ruin.
Without such insurance, leaders like Goh face personal liability, which can result in devastating financial consequences. The case highlights why corporate leaders should consider D&O insurance as essential coverage.
See also:
Comentários