We were engaged by a leading insurance company to provide their Directors’ and Officers’ (D&O) consulting team with an insurance risk assessment ahead of the imminent US Initial Public Offering (IPO) of one of their policy holders. This focussed on providing a comprehensive view of how the policy holder – a clinical stage immuno-oncology biopharmaceutical company developing pioneering cancer immunotherapies – was being operated, including their risk culture; identifying potential risk scenarios resulting from public listing on US markets that could affect D&O coverage; and assessing the company’s existing risk control measures. We utilised official records of previous civil action law suits in the oncology arena to identify potential risk scenarios, assessed the company’s control measures against these, and outlined additional precautions and risk mitigation measures they would need to implement to safeguard themselves from future claims.