Yet another demonstration of feeble corporate regulation
In my field, my clients expect me to have generous professional and public indemnity insurance. Maybe one way to clean up this mess of bad corporate actors rushing for the lifeboats unharmed while the creditors or victims such as the clients, employees or suppliers go down with ship would be to make some form of insolvency and/or misconduct insurance mandatory; that way at least someone (i.e. the underwriters) with a vested financial interest would be looking into the conduct of the business's operators and pricing their premiums accordingly. The risks of large fines for GDPR non-compliance and the premiums to cover them might also make organisations think more clearly about whether they need all this data on their customers at all. Good corporate government and risk management should reduce premiums.
Bad managers with a history of failed companies would get swept out as too expensive to partner with or employ. And there'd be a means to recoup missing tax, pensions, etc. in the case of insolvency. It's too easy to start and too easy to fail limited companies, without personal consequences.
I'm sure adding yet more insurance has its downsides and the customers will pay in the end, but it's just a thought.
Biting the hand that feeds IT
