Latest Directors Officers Headlines
All the headlines from our Directors Officers Topic Page, ordered by recency.
Wirecard Hires Forensic Investigator, Say Sources. Findings Could Aid in D&O Litigation.
Jul 21 2020 // German payments company Wirecard has hired Alix Partners for a forensic investigation of the accounting scandal that led to its collapse, people close to the matter said. The blue-chip company filed for insolvency last...
Insurance Costs Rising for Cannabis Firms as Unhappy Investors File Slew of Lawsuits
Jul 8 2020 // Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and...
Tesla Pays CEO Musk Nearly $1M for Controversial D&O Insurance Arrangement
Jul 1 2020 // Tesla Inc. is making a one-time payment of almost $1 million to Chief Executive Officer Elon Musk related to a controversial insurance arrangement he agreed to with the carmaker’s board earlier this year. The company...
There’s Plenty of Room for Improvement in U.S. Commercial Lines: Fitch
Jun 22 2020 // With an industry overall combined ratio for 2019 hovering just below 100, and individual lines like long-tail liability moving 10 points over breakeven, the U.S. commercial lines market has “plenty of room for...
Investors’ Suit Alleges Firm Inflated Stock with Misleading Claims About Its Covid Test
Jun 17 2020 // An investor lawsuit against a Utah company alleges its principals falsely claimed its coronavirus diagnostic test was “100% accurate” and before doubts about the claim became widely reported, directors and...
Companies Press Insurance Brokers for Workarounds to Rising D&O Costs
Jun 15 2020 // When Elon Musk said in April he was dropping the insurance policy that protects Tesla Inc.’s board from shareholder lawsuits, it got Skip McBride’s attention. To McBride, who used to manage law firm Bracewell...
How Coronavirus Could Further Stress an Already-Stressed D&O Insurance Market
Jun 12 2020 // Players should expect the directors and officers insurance market to “undergo radical changes” based on 2019 results and the “unprecedented turbulence” created by the COVID-19 pandemic, according to...
Oil & Gas Companies Seek More D&O Insurance as Bankruptcies Loom
Jun 10 2020 // The U.S. oil and gas industry is paying a hefty price to protect its top brass against potential bankruptcy and investor lawsuits. Oil companies are shelling out as much as 75% more to renew insurance liability coverage...
Cannabis Broker Spotlight: Bozzuto with Cannabis Connect is an Outspoken Advocate for the Business
May 28 2020 // Editor’s note: This is the first in a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a...
Commercial Insurance Rates in Q1 Rise 14%, Even Before Impact of COVID-19: Marsh
May 12 2020 // Global average commercial insurance prices increased 14% in the first quarter of 2020 – but the rate hikes were not due to the COVID-19 pandemic, according to insurance broker Marsh in its quarterly Global Insurance...
CEO Musk Replaces Tesla’s D&O Policy with ‘Personal Coverage’
May 1 2020 // Tesla founder and CEO Elon Musk is getting into the insurance business again, sort of. Musk has cancelled his company’s directors and officers insurance (D&O), replacing it with a promise to personally provide...
D&O Insurance Coverage and Coronavirus: Avoiding Exclusions
Apr 20 2020 // Sometimes an article needs an introduction to put the subject in context for the reader. Sadly, no introduction is needed for the coronavirus. It will have affected everyone who reads this. Some will have suffered...
Beazley Appoints Greenwood as Head of Cyber & Executive Risk, Succeeding Donovan
Apr 16 2020 // Specialist insurer Beazley has appointed Bethany Greenwood as global head of cyber & executive risk (CyEx) from July 2020. She will join Beazley’s executive committee at the same time. Greenwood joined Beazley...
BHSI Expands Cover for UK Financial Institutions with D&O and Civil Liability Policies
Apr 14 2020 // Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies tailored specifically for UK financial institutions: Professional First Financial Institutions Civil Liability Insurance, and Executive First...
Anticipated Coronavirus Claims Scenarios Across Major Coverage Lines: Viewpoint
Apr 9 2020 // As the COVID-19 pandemic has progressed over the past several months, participants in the insurance industry have recognized the likelihood of a resulting increase in claims volume. Much of the early focus has been on the...
D&O Insurers Brace For Coronavirus ‘Event Driven’ Litigation
Apr 6 2020 // What may be the first U.S. securities lawsuits alleging misdeeds related to coronavirus were filed in late March — one against a cruise line and another against a pharmaceutical company that claimed to have developed...
Insurers Worry About D&O Claims Against Executives From Coronavirus
Apr 2 2020 // Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses,...
D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment
Mar 4 2020 // Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best...
Cannabis Power Brokers Tackle Five Pressing Insurance Questions
Feb 27 2020 // The cannabis business is a frontier industry that continues to offer no shortage of unique challenges to regulators, as well as boundless questions for industry watchers and ancillary businesses like insurance. Key...
Massive MJBizCon in Vegas Reveals Coverage Gaps, Little Insurance Understanding
Dec 19 2019 // If gawking at tons of cannabis-churning pieces of agricultural equipment winding around a quarter-million feet of convention floor space wasn’t your thing, perhaps access to an abundance of pre-rolls, or whiffing...
