directors and officers (D&O) News

Canada’s Manulife Seeks Dismissal of Court Case Filed by Hedge Fund

Canadian insurer Manulife Financial Corp said on Tuesday it would ask a court in Saskatchewan to dismiss claims made against it by a hedge fund after the province changed its rules to limit how much an investor can put into …

Canada’s Manulife Faces Investor Backlash over Failure to Disclose Ongoing Court Case

Canada’s biggest life insurer is under pressure from shareholders to explain why it failed to disclose details of an ongoing court case which came to light after a short-seller released a report detailing the litigation. The stock has dropped 11.5 …

Patisserie Holdings’ CFO Arrested as UK Fraud Office Probes Accounting Scandal

Patisserie Holdings Plc finance chief Chris Marsh was arrested as U.K. fraud prosecutors opened a probe into an accounting scandal that threatens to shutter the cake baker’s 200-plus stores. The police in Hertfordshire, England, said they had arrested a 44-year-old …

Arkema NA, CEO Indicted in Texas for ‘Reckless’ Chemical Release

The North American subsidiary of a French chemical manufacturer and two senior staff members were indicted in connection with last year’s explosion at the Crosby, Texas, plant in the wake of Hurricane Harvey. Arkema North America, its CEO Richard Rowe …

Validus Specialty Expands Commercial D&O Portfolio; Zurich’s McAdams Named Sr. U/W

Validus Specialty Underwriting Services Inc. announced the expansion of its product portfolio with an admitted, private company commercial directors and officers (D&O) policy. With broad coverage, the new form provides management liability protection for private company business leaders, Validus Specialty …

XL Catlin Launches Five Financial Institutions Insurance Solutions in Iberia

XL Catlin’s insurance operation in Iberia announced that it is launching five new insurance solutions for financial institutions. The coverage is for directors & officers liability, civil liability, comprehensive crime, private equity / venture capital liability and investment management. “Spain’s …

UK’s Allianz Insurance Enhances D&O Cover

Allianz Insurance, the UK subsidiary of Allianz SE Group, has refreshed its directors and officers proposition to offer broader coverage for businesses. The new and enhanced cover includes: Kidnap and ransom An employment practice helpline Protection for IT security / …

D&O Prices Down, Auto Up in Q3; Other Commercial Lines Stable

Price decreases accelerated for directors and officers insurance in the 2016 third quarter, a period during which commercial insurance prices generally remained flat once again overall. The latest Willis Towers Watson’s Commercial Lines Insurance Pricing Survey showed prices charged on …

How SEC Scrutiny of Unicorns Could Affect Private Company D&O Insurance

Underwriters of directors and officers (D&O) liability insurance should keep an eye on the increased scrutiny of “unicorn” technology firms by the U.S. Securities and Exchange Commission (SEC) for potentially inflated valuations and misleading statements, both of which pose a …

Insurers to Fund $27 Million Duke Energy Accord Over Ouster of CEO

Duke Energy Corp. agreed to a $27 million settlement of claims that directors wrongfully concealed their plan to fire Chief Executive Officer William Johnson just minutes after the company closed on its $13.7 billion merger with Progress Energy Inc. Duke …