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Category Archives: D&O Insurance

Steps Management Can Take to Reduce Costly Employee Errors

Most employee errors are simple work-related mistakes that can be easily fixed. However, without the proper precautions in place some seemingly-innocent employee errors can lead to costly consequences. A minuscule error such as a typo in a contract or a program’s code or a missing signature on a document can turn out to have dramatic financial repercussions for a business if left unchecked.

Many employee errors are considered the result …

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D&O and E&O Insurance: What’s the Difference?

D&O and E&O Insurance: What’s the Difference?

On the surface, it can be tough to tell the difference between directors & officers (D&O) and errors & omissions (E&O) insurance. Both policies, at their core, are designed to safeguard a business against losses from claims of negligent or malicious acts. However, this does not mean that the two policies are interchangeable. That is a common misconception, but the two policies each have distinct areas that they cover, and

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Data Breach-Related D&O Litigation Continues to Emerge

Data Breach-Related D&O Litigation Continues to EmergeThe impact from data breaches has entered the corporate boardroom, as we first discussed in the wake of high-profile cases Target and Wyndham Worldwide in which plaintiffs initiated data breach-related derivative lawsuits against their respective boards. When the Wyndham case was dismissed, however, many felt that perhaps directors and officers were spared, but a year later Home Depot was hit with a data breach-related shareholder’s derivative lawsuit, once again shining

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Choosing the Right Fit for Your Board of Directors

Choosing the Right Fit for Your Board of DirectorsIf you’re a private or non-profit company, you may be looking to add to your Board of Directors. This important body sets annual budgets, operational goals, ensures funds are available for those operations, and evaluates the job performance of the CEO. Most boards of directors have several top-level positions responsible for various aspects of the overall operation of the company. The CEO is the highest-ranking member of the board and …

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D&O: Boardroom Diversity Critical to Effective Corporate Governance

D&O Boardroom Diversity Critical to Effective Corporate GovernanceHaving a diverse boardroom includes ethnic and gender diversity, as well as diversity in skills, competencies, philosophies and life experiences as well. A diverse board reflects the real world, your clients and customers, and provides a company with several key benefits.

A study by Utah State University’s Alison Cook and Christy Glass, for example, examined the impact of leaders’ diversity on firms’ policies, organizational structure, and strategy. The study found …

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What to Look for in Directors & Officers Liability Insurance

What to Look for in Directors & Officers Liability InsuranceDirectors and Officers (D&O) Liability insurance is a complex coverage and requires expert evaluation of a company’s operations and exposures in order to purchase a policy that is designed to respond to your specific needs. Following are some of the key factors to review when looking at D&O insurance.

  • Are your D&O limits in sync with your risk profile? This requires looking your firm’s financial strength and risk tolerance
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Reviewing the Terms of a D&O Insurance Policy

Know the D&O Ins & Outs of What’s CoveredKnow the D&O Ins & Outs of What’s Covered

Directors & Officers (D&O) Liability insurance is needed for executives and board members of private, public and non-profit companies to protect against allegations of wrongful conduct. Claims can be brought against by company stakeholders such as owners, investors, lenders, employers and securities holders. Customers, consumer groups, competitors, business partners such as vendors and suppliers, and government enforcement/regulatory groups can also file …

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Directors & Officers Liability: A Rise in Whistleblower Complaints

D&O Liability A Rise in Whistleblower ComplaintsReview Directors & Officers Policy Language for Coverage

The U.S. Securities and Exchange Commission (SEC) in its annual report to Congress revealed that the number of whistle-blower tips and complaints under its program increased 7.9% from the previous year to 3,238 in fiscal year 2013. The SEC’s Office of the Whistleblower, mandated by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, was established in August 2011 and since …

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Research: Many Private Companies Not Insuring Against D&O Risks

Research Many Private Companies Not Insuring Against D&O RisksOnly 28% of Smaller Private Firms Purchase Directors & Officers Liability

A recently released report, “The Private Eye: Spotlight on the U.S. Private D&O Market”, indicates that private companies have a perceived lack of litigation risk when it comes to their directors and officers. According to Advisen Ltd, which provides insight into underwriting, marketing and purchasing commercial insurance, only 28% of firms with annual revenues below $100 million buy Directors

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A Board of Directors in Family Businesses Serve Vital Role

A Board of Directors in Family Businesses Serve Vital RoleBoard Members Bring Greater Accountability for Owners

Increasingly more family businesses are choosing to incorporate a board of directors in their operation. Why form a board? A board of directors can serve a vital role in helping a family company navigate its future. In addition to having access to individuals with expertise in strategy and other high-level business issues, a board can provide greater accountability to the family owners and …

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