The Institute of Directors (IOD), India – Hyderabad Region successfully organized a Regional Conclave on Building Resilient Boards on February 13, 2025, at the FTCCI, Hyderabad. The theme of the conclave, "Navigating Boardroom Risks through Robust Risk Management and Director Liability Insurance," underscored the critical importance of risk governance and leadership protection in today’s dynamic corporate landscape. The Conclave brought together distinguished speakers, senior officials, corporate directors, and key decision-makers to discuss boardroom resilience, effective risk management, and the role of Director Liability Insurance in leadership protection. Through expert insights and deliberations, the conclave emphasized proactive risk assessment, regulatory compliance, and governance best practices to strengthen corporate sustainability and ethical leadership.

The event commenced with the ceremonial lighting of the lamp, symbolizing knowledge, and the pursuit of excellence in corporate governance.

PLENARY SESSION I: Inaugural Session

The 'Welcome Address' was delivered by:

Mr. T.V. Shiva Rao
Hon. Regional Director - Hyderabad Region, Institute of Directors
Chief Advisor, Future Labs, Hyderabad

Mr. Rao set the tone for the event by providing a comprehensive overview of the program. He emphasized the significance of the conclave's theme, "Navigating Boardroom Risks Through Robust Risk Management and Director Liability Insurance," highlighting its relevance in today's complex corporate governance landscape. He underscored the importance of effective risk management in safeguarding directors and organizations, enabling them to navigate emerging challenges and ensure long-term stability. His introduction eloquently outlined the objectives of the conclave, emphasizing its role in fostering thought leadership and facilitating actionable discussions among participants.

The 'Special Address' were delivered by:

1. Mr. Ovais Sarmad
Vice-Chair, GHG Protocol Steering Committee
former Deputy Executive Secretary, UN Climate Change, Geneva

2. Mr. Arindam Ghosh
Director - India Insure Risk Management & Insurance Broking Services Private Limited, Hyderabad

Mr. Sarmad addressed the gathering, expressing his appreciation to the Institute of Directors (IOD) for convening the event. He shared insights from his journey from Hyderabad, India to the United Kingdom and the United Nations, underscoring the critical importance of risk management in tackling Climate Change. Citing Los Angeles as an example, he illustrated the universal impact of Climate Change, irrespective of socio-economic status, and highlighted the challenges faced by the U.S. government in addressing environmental degradation. Discussing the Paris Agreement, he emphasized the urgency of limiting global warming to below 1.5°C and mitigating rising sea levels. He warned of the severe consequences for developing nations, including loss of life due to escalating temperatures. Advocating for corporate responsibility, he urged businesses to integrate ESG principles, invest in renewable energy, and adopt resource conservation strategies to ensure a sustainable future.

Mr. Ghosh addressed the long-term impact of Climate Change, highlighting the environmental consequences of infrastructure development, including roads, buildings, and airports. He also discussed the decline of family-run businesses, emphasizing that this transition often results in the loss of core values such as humility. Emphasizing the need for preparedness in an evolving business landscape, he underscored the significance of adaptability and resilience in managing unforeseen disruptions. He concluded by encouraging board members to foster collaboration and strengthen internal relationships to effectively navigate emerging challenges.

This was followed by a 'Keynote Address' delivered by:

Mr. P. R. Ramesh
Former Chairman - Deloitte India

Mr. Ramesh emphasized the importance of 'Building Resilient Boards,' highlighting the growing prominence of corporate governance and the increasing regulatory challenges in India. He outlined the vital role corporate governance plays in navigating these challenges to ensure long-term business sustainability. While acknowledging the importance of insurance in risk management, he pointed out its limitations, particularly in mitigating risks from overwhelming legal backlogs. He also noted the surge in enforcement actions from 2014 to 2023, which has increased pressure on companies to comply with evolving regulations. He further stressed the impact of social media on corporate reputation, using L&T's experience as an example, explaining how brand damage caused by negative publicity is often irreversible, even if financial losses can be recovered through insurance. In conclusion, he emphasized the growing cybersecurity risks business face, citing incidents like the CrowdStrike airline disruption, and underscored the need for organizations to adopt robust cybersecurity measures to prevent significant operational and financial damage.

The 'Chief Guest Address' was delivered by:

Dr. Shashank Goel, IAS
Director General, MCR HRD Institute & E.O
Special Chief Secretary
Government of Telangana

Dr. Goel emphasized the need for risk management to be central in boardroom discussions in today's unpredictable business environment. With technological advancements, increased competition, and the influence of digital platforms, businesses face greater risks, including reputational and financial damage from misinformation. He stressed that 'Boards must move beyond strategy to proactively identify and mitigate risks.' Dr. Goel highlighted that compliance is no longer optional, and businesses must prioritize transparency, fraud prevention, and governance standards. He also pointed out the rising threat of cyberattacks and misinformation. In conclusion, he urged businesses to adopt AI-powered systems for early threat detection and focus on securing the future by fostering a culture of accountability, transparency, and strategic foresight.

PLENARY SESSION II: D&O Liability Insurance as Part of Board Risk Management

The session was moderated by:

Mr. Umesh Pratapa
Author & Consultant – Liability Insurance
Hyderabad

The Session had the following distinguished speakers:

1. Ms. Deepali Ananth Rao
Director - India Insurance Risk Management & Insurance Broking Services Private Limited, Hyderabad

2. Mr. Karn Dutt Sharma
Senior Vice President - Marsh India Insurance Brokers Private Limited, Hyderabad

3. Mr. Atmaram Cheruvu
Co-founder & Director - Mad Over Insurance, Hyderabad

The Speakers of the session highlighted the critical role of Directors and Officers (D&O) liability insurance in boardroom risk management, focusing on the importance of corporate governance and legal responsibilities. Speakers emphasized how directors must navigate complex legal challenges and the necessity of having clear agreements to manage legal expenses, especially in the face of growing global regulations. Directors were reminded that accountability extends beyond company operations, continuing even after closure. The discussion stressed compliance with legal frameworks to prevent financial and reputational risks. While D&O insurance can safeguard directors during legal disputes, speakers cautioned that coverage may not always be complete, particularly during investigations where companies may refuse to cover legal costs. The complexity of global regulations, particularly EU laws on cybersecurity, AI, and ESG compliance, was highlighted as a major concern, with violations risking heavy penalties.The session concluded by underscoring the risks associated with prolonged legal proceedings in critical matters such as fraud or harassment, which can significantly impact organizational reputation. Directors were encouraged to remain vigilant, proactive, and informed to manage these evolving challenges effectively.

This was followed by an interactive Q&A session with the audience.

PLENARY SESSION III: Advanced Risk Management Strategies for Boards

The Session was moderated by:

Mr. Shujath Bin Ali
Global General Counsel & Chief Compliance Officer
Re sustainability Limited
Hyderabad, India

The Session had the following distinguished speakers:

1. Ms. Sundari R. Pisupati
Co-Founder & Co-Managing Partner - Tempus Law Associates, Hyderabad

2. Mr. VGVS Sharma
Founder - Tophole Management & Consulting Services, Hyderabad

3. Mr. Vishal Shah
Partner - Assurance
Deloitte Touch Tohmatsu India LLP, Hyderabad

The Speakers of the session delved into advanced risk management strategies for boards, emphasizing the need for robust governance structures and effective risk frameworks to ensure organizational stability. Speakers discussed how organizations can enhance their risk management by integrating advanced technologies, focusing on risk detection, mitigation, and response capabilities. The panel also highlighted the critical role of independent directors in ensuring governance structures align with best practices, while remaining proactive in questioning assumptions, identifying gaps, and challenging risk management strategies to enhance accountability. The session further stressed on the importance of adapting to regulatory changes, technological advancements, and emerging risks, including issues like cyber threats, environmental concerns, and compliance complexities. Directors were encouraged to engage actively with management, ensuring risk strategies are regularly reviewed and updated to remain effective. The session concluded by urging organizations to continuously refine their risk management approaches to build resilience, protect reputations, and maintain preparedness for unforeseen challenges.

This was followed by an interactive Q&A session with the audience.

The 'Vote of Thanks' & 'Closing Remarks' were proposed by:

Ms. Karuna Grover
Regional Manager, Hyderabad Region
Institute of Directors

Ms. Grover expressed sincere gratitude to the sponsors, speakers, and panelists for their contributions in making the event a resounding success. She acknowledged the valuable insights shared and thanked everyone for their active participation, which helped create a productive and engaging platform for discussion. Her closing remarks were a fitting conclusion to the event, leaving attendees with a sense of appreciation and inspiration.

The Institute of Directors (IOD) extends its sincere gratitude to its esteemed Event Partners for their invaluable support:

• Gold Partner: India Insure Risk Management & Insurance Broking Services Private Limited/

• Bronze Partner: Marsh India Insurance Brokers Private Limited

• Supporting Partner: National Insurance Company Limited

• Technical Support Partner: Suryaa Events

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