Tag Archives: Directors and officers

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 Considerations for Privately Held Businesses

D&O Considerations for Privately Held BusinessesSome small and mid-sized businesses may believe that Directors & Officers (D&O) Liability insurance is meant only for publicly traded firms or large companies. But this is far from the truth. Although privately held firms are not vulnerable to the exposure of securities calls actions, these businesses can still be sued, with executives being held accountable for their actions over the management of company affairs. It’s also important to note …

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The Anatomy of Directors & Officers Insurance

The Anatomy of Directors & Officers InsuranceDirectors & Officers (D&O) insurance provides liability coverage for managers and executives at companies to protect them against claims as a result of decisions and actions they take within the scope of their duties. A D&O policy can cover the personal liability of company directors and officers as individuals, reimburse the company in the event it has to pay the claim of a third party on behalf of its managers …

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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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Cyber Liability: Data Breaches and Role of the CEO

Cyber Liability Data Breaches and Role of the CEOA survey of 200 directors of public companies conducted by security firm Veracode and the New York Stock Exchange Governance Services (NYSEGS) shows that corporate boards have become much more serious about data breaches and are willing to hold top executives accountable for them, as recently discussed in an article in Christian Science Monitor. This is not at all surprising considering the havoc that data breaches wreak on companies …

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D&O, Professional Liability Claims Against Non-Profits on the Rise

Implementing Protocols Critical in Mitigating Claims for Non-ProfitsImplementing Protocols Critical in Mitigating Claims for Non-Profits

According to a recent article in The NonProfit Times, social service organizations are increasingly the target of lawsuits. These involve claims around professional liability and directors and officers liability issues. They include challenges to nonprofit status; regulatory; antitrust; mergers and acquisitions; management of assets; claims from funders or donors (“stakeholders”) to the organization; beneficiaries of “clients” of organizations; states’ attorneys general; …

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