Directors & Officers News

Oklahoma Lobbyists to Pay $115K in Ethics Settlement

Two Oklahoma lobbyists have agreed to pay $115,000 in penalties as part of a settlement announced by the Oklahoma Ethics Commission. The settlements by the commission were reached with lobbyists James Milner and James McSpadden, who both served as treasurers …

Feds: Firm Dumped Liquid Landfill Waste into Flint’s System; Owner Charged

A Flint business owner is accused of illegally discharging nearly 48 million gallons of waste from landfills into the city’s wastewater system from 2007-15. The waste included a chemical from a family of chemicals known to be hazardous to human …

Directors & Officers Risk Landscape Shaped by Insolvencies, COVID, Activism: Allianz

While the COVID-19 pandemic presents risks for directors and officers (D&O), it is far from the only force these insureds and their insurers will be dealing with in the year ahead. Rising insolvency exposures, growing cyber security threats and persistent …

SEC Fines Cheesecake Factory for Misleading Disclosures About COVID Financial Impact

The Securities and Exchange Commission said it has settled charges against The Cheesecake Factory Inc. for misleading disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition. The SEC said the action is its first …

Supreme Court Justices Tackle Company Liability for Human Rights Abuses

U.S. Supreme Court justices on Tuesday appeared wary of barring lawsuits against American companies over alleged human rights abuses abroad but signaled they could toss out a case accusing Cargill Inc. and a Nestle SA subsidiary of knowingly helping to …

D&O Insurers Under Pressure But Big Enough to Handle Pandemic Claims, Says Fitch

As claims related to the economic fallout from the pandemic emerge in the U.S. directors & officers (D&O) liability insurance segment, insurers can expect the claims to take several years to pay out and underwriting losses to continue over the …

Beazley Beefs Up Executive Risk Team in U.S. with 6 More Recruits

Specialty insurer Beazley has expanded its underwriting and claims presence in the U.S. with new hires for its Executive Risk team that focuses on board-level risks facing businesses and their executives. Elizabeth Cassarino joins Beazley’s Boston team as an underwriter. …

How Coronavirus Could Further Stress an Already-Stressed D&O Insurance Market

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 an A.M. Best report. A.M. Best expects that the efforts to address …

Buffett Warns of Corporate Directors Too Beholden to CEO

Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. In his annual …

It’s Not Easy Getting Insurers to Defend in Sexual Harassment Cases

While Harvey Weinstein’s insurers have reportedly agreed to pay $47 million to settle civil suits against the movie producer, most policyholders should prepare for an epic legal battle just to get their insurers to defend them against accusations of sexual …