I attended the PLUS D&O Symposium in New York, February 8th and 9th. If you ever have an opportunity to go to this event, you will definitely want to take advantage of it. Not only is it in a great venue (Marriott Marquis at Times Square), the content is always cutting edge and valuable. Although […]
Insureds buying or selling businesses are beset with many exposures that can be dealt with very elegantly by a management liability (D&O) policy. This is especially important for privately-held businesses.
Agents frequently insure entities on whose boards they serve. There are inherent conflicts and dangers in this business-building approach. Exercise Caution!
Many agents serve on boards of directors, frequently non-profit, sometimes for-profit, and end up writing the entity’s insurance. From a D&O perspective, this creates an inherent conflict of interest, and from an Agents E&O perspective, often creates an uncovered cause of loss, should a claim arise. I think most agents who write insurance under these […]
D&O policies are not intended to cover professional services, even though the entity and the employees are insured for their wrongful acts.