公司治理與董事及重要職員責任保險關係之研究

Abstract

本研究針對如何落實公司治理的主題作為出發點，因在各種相關的準則、規範熱烈討論下的結果，對業界而言並無施行的步驟與誘因，為了尋求一個較簡易有效的方法，希望對台灣的公司治理處在嚴重落後的現階段，能夠有另類的依循路徑供主管機關與企業參考。 現階段在既有的工具中發現董事及重要職員責任保險(Directors & Officers Liability Insurance簡稱D & O)與落實公司治理有顯著的關係。因為從積極面來說，企業的營運在於人才的掌控，企業有了優秀的人才建立制度，使公司朝向最佳公司治理的目標前進，直接的產生公司治理溢價(Corporate Governance premium)，間接的，企業有了充裕的擴廠資金來源，維持競爭力達到永續經營的目標。在營運的過程中，D& O責任保險提供經營人才一個無後顧之憂的保障環境，尤其在現行法令制度上對於過失行為人的處罰，是以訴訟來遏止企業弊案的環境下，公司為董事及重要職員們購買D & O責任險是一種負責任的態度。就資訊透明度而言，因為保險市場的特殊性，在投保前的核保程序中，保險公司為了降低賠償損失，以事前的嚴格審核取代事後的訴訟賠償，使企業資訊的透明度由具有了專業組織的保險公司站在公司治理的最前線，替利害關係人(Stakeholder)把關， 達到公司治理的要求。在消極面上，企業有了D & O 責任險，在面對訴訟賠償時，轉由保險公司處理賠償問題，表現出勇於負責的態度，不因企業的倒閉，造成受害人的求償無門而影響經濟安定，企業也因有了保險的賠償得以渡過危機繼續營運。公司治理與D & O 責任保險如同天平的兩端，D & O對公司治理的資訊透明度、商業道德與經營責任不論在積極面與消極面均有正面的協助；而公司治理對於D & O則有降低風險、減少賠償損失的回饋。 本研究不是在為保險公司促銷D & O責任險，而是有感於台灣在公司治理評等的結果非常令人擔憂，要改善這局面需要政府在法令與制裁上扮演公正的裁判員，藉由嚴懲重罰達到嚇阻不法的目的，並引起企業對D & O保險的重視，再藉由保險的市場機制調節與D & O保險與公司治理間的關係協助，達到落實公司治理的目的。

This study focuses on how to make corporate governance a reality from the Directors and Officers Liability Insurance (D&O) point of view. From a positive viewpoint, we know that business relies on quality human resources to work on its objectives, and therefore, generate Corporate Governance premium. D&O supports operation human resources with protection from being sued to run business, especially when current law regulates business unit to conform by punishing who run the business. Under this circumstance, It is the responsibility for business to purchase D&O for directors and management. Also, due to the risk management nature of the insurance issuer, the insurance company will, with its professional knowledge, serve as a gatekeeper to prevent loophole, therefore protect the interest for the stakeholders. From a passive point of view, with the D&O, business unit has transferred the risk to insurance company; therefore, enable business owners to face the fact to keep the business going on. Corporate governance and D&O stand on both sides the scale to keep the business balance. D&O helps corporate to reduce running risk, and D&O also encourage corporate to disclose information and to raise integrity to the public. This study is not for promotion of D&O, but to highlight the importance of D&O to business enterprises, public investors, insurance companies, and the government. In order to maintain competitiveness, we should carefully re-evaluate D&O, from all areas, including business decisions, investment opportunities, insurance evaluation, and law enactmen.