Tag Archives: D&O

More Mug Shots from Readers

It is time to post another round of photos that readers have taken of their D&O Diary mugs I never cease to be amazed at the diversity of shots and the different photographic visions that readers’ pictures exhibit. .   Readers will recall that in a recent post, I offered to send out to anyone … Continue Reading

More About the D&O Insurance Implications of the SEC’s New Admissions Wrongdoing Requirements

Numerous questions surround the SEC’s new policy requiring enforcement action defendants in “egregious” cases to admit to wrongdoing in order to settle with the agency, rather than simply agreeing to neither admit nor deny the agency’s allegations. As I discussed in a prior post (here), among the questions is the issue of what the impact … Continue Reading

Japanese Securities Litigation Trends: 2000-2012

The volume of misstatement-related securities litigation in Japan has “increased dramatically” since the 2004 revisions to Japanese securities laws, according to a June 2013 report from the consulting firm Alix Partners. The report, entitled “Recent Trends in Japanese Securities Litigation: 2000-2012,” can be found here. Even though misstatement-related securities suit filings in Japan were down … Continue Reading

Protection for Public Company Directors and Officers: Indemnification and Insurance

In an environment where public company directors and officers face increasing scrutiny and expanding liability exposures, the indemnification and insurance protections available to them are increasingly important. A July 15, 2013 memorandum from the Gibson Dunn law firm entitled “Director and Officer Indemnification and Insurance – Issues for Public Companies to Consider” (here) takes a … Continue Reading

D&O Insurance: Notice to Claims Department Required to Satisfy Notice Requirements

Disputes over notice of claim requirements usually involve questions about the timing or content of the notice. A recent notice dispute involving UnitedHealth Group raised neither questions of timing or content; rather, the dispute involved the question of “to whom” the notice must be sent. In an April 25, 2013 opinion (here), District of Minnesota Judge … Continue Reading

Towers Watson Releases 2012 D&O Insurance Survey

By now, many readers may have seen the 2012 Towers Watson D&O insurance survey, entitled “Directors and Officers Liability: 2012 Survey of Insurance Purchasing Trends,” which can be here. (I am only belatedly posting a link to the survey now owing to my travel schedule last week, when Towers Watson released the survey report).   As … Continue Reading

NY Appellate Court: Excess Insurers Off the Hook Where It Can’t Be Determined if Underlying Insurance Exhausted

In the latest of what is now a lengthening line of cases, on June 12, 2012, the New York Supreme Court, Appellate Division, First Department, applying Illinois law, ruled in a coverage case brought by JPMorgan Chase that owing to settlements by underlying carriers in a professional liability insurance program, excess insurers in the program … Continue Reading

Lehman Bankruptcy, Defense Expenses, and D&O Insurance

The September 2008 collapse of Lehman Brothers resulted in the largest bankruptcy filing in U.S. history, as well as an explosion of litigation and regulatory actions and investigations. In the pending bankruptcy proceedings a recent motion by the debtor’s counsel details the massive legal costs accumulating in the various legal proceedings and also raises some … Continue Reading