Directors & Officers News

Insurers May Be on Hook for Dole Buyout Lawsuit Settlements

A Delaware judge says insurers may be on the hook for $190 million to settle two lawsuits stemming from a 2013 buyout in which Dole Food chairman and CEO David Murdock took the company private. In a ruling late last …

D&O Insurers Warned on Competitive Pricing, Troubling Claims Trends

Property/casualty insurers in the directors and officers (D&O) liability insurance market may find it more difficult to maintain underwriting performance in 2018 than in recent years, according to Fitch Ratings, as market pricing remains highly competitive and claims trends are …

Insurers May Not be Able to Avoid Blockchain, Virtual Currencies ‘Sweeping Through Industry’

Insurers need to be thinking about blockchain technology and virtual currencies like bitcoin and how to approach these areas of emerging risk as they become harder to ignore, according to panelists at the 2018 Professional Liability Underwriting Society (PLUS) Directors …

Slew of Republican Judicial Appointments Could Bode Well for D&O Insurers

Directors and officers (D&O) insurance has faced major losses in recent years, due in part, to what some call a significant increase in shareholder securities class action lawsuits. But a slew of new judicial appointments through the Republican-led Congress could …

Amid Sexual Harassment Allegations, Besh Steps Down from New Orleans Restaurant Group

New Orleans celebrity chef John Besh stepped down from management of the restaurant group that bears his name after a newspaper reported that 25 women who are current or former employees of the business said they were victims of sexual …

XL Catlin Adds Technology, Excess D&O Coverage for Design Professionals

XL Catlin has added two new enhancements to its professional liability insurance for architects, engineers and other design professionals in the US, including an expanded professional services definition and Principal Protector Coverage for qualifying firms. XL Catlin’s Design Professional team …

New Side ‘A’ D&O Policy Available from Starr Companies

Starr Companies has introduced an enhanced Directors & Officers policy, providing additional protection for directors, officers, trustees, governors, management committee members or board of managers members for decisions made within the scope of their designated roles. Often referred to as …

Ex-CFO of Bankrupt Enron Offers D&O Lessons from Accounting’s ‘Gray’ Areas

Andrew Fastow, former chief financial officer (CFO) of Enron Corp., a now-defunct energy trading company swept up in a massive fraud scandal in the early 2000s, warned a room full of directors and officers (D&O) underwriters that some companies today …

PURE Insurance Launches Non-Profit D&O Coverage

Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high net worth individuals and families, has made several enhancements to its personal excess liability coverage, including the introduction of not-for-profit directors & officers (D&O) liability coverage. …

Ironshore’s Pembroke Agency Expands UK Financial Institutions’ D&O Cover

Ironshore’s Pembroke Managing Agency Ltd. has enhanced its directors & officers liability product for financial institutions to reflect U.K. regulation. The new regulation, known as the “Senior Managers Regime,” places greater personal accountability on senior managers of U.K. financial institutions, …