D&O coverage News

Kroger Chairman and CEO Resigns Following Investigation Into Personal Conduct

Kroger Chairman and CEO Rodney McMullen has resigned after an internal investigation into his personal conduct. Kroger, the nation’s largest grocery chain, said Monday that the investigation into McMullen’s personal conduct was unrelated to the business, but was found to …

Famous Gulf Coast Restaurant and Owner Fined $1.5M for Mislabeling Seafood

GULFPORT, Miss. (AP) — A Mississippi Gulf Coast restaurant and its co-owner it were sentenced Monday on federal charges of mislabeling inexpensive imported seafood as local premium fish. Mary Mahoney’s Old French House, founded in Biloxi in 1962 in a …

Alabama Shipbuilder Austal to Pay $24M to Settle Accounting Fraud Probe

MOBILE, Ala. (AP) — Austal USA, an Alabama-based shipbuilder that makes vessels for the U.S. Navy, has admitted wrongdoing and agreed to pay a $24 million fine to settle an accounting fraud investigation, the U.S. Department of Justice announced Tuesday. …

Tennessee Sheriff Pleads Not Guilty to Using Prison Labor for Personal Profit

MEMPHIS, Tenn. (AP) — A sitting Tennessee sheriff pleaded not guilty Wednesday to charges that he illegally profited from the work of jail inmates under his supervision and housed dozens of them in a home outside of the prison without …

Whistleblower Says Southern Co. Should Repay $382M for Failed Clean Coal Plant

(AP) — A former employee is suing to force a Mississippi utility to repay $382 million that the federal government gave to build a failed coal- fueled power plant. Kelli Williams, a former construction manager for Atlanta-based Southern Co., filed …

Appeals Court Rules L.A. Lakers Not Entitled to Coverage in TCPA Suit

The U.S. Ninth Circuit court of Appeals affirmed Wednesday that the Los Angeles Lakers are not entitled to insurance coverage for class action allegations that the team violated the Telephone Consumer Protection Act. During a game the team evidently invited …

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. …

Marsh Enhances D&O Difference in Conditions Coverage

Marsh has enhanced its Side A directors & officers (D&O) difference in conditions (DIC) cover Marsh Alpha in response to the new and emerging legal and regulatory risks facing directors and officers. The enhanced coverage now includes broad investigation cover, …

AIG Responds to Supreme Court ‘Fraud on the Market’ Ruling with D&O Endorsement

American International Group, Inc. (AIG) insurers have introduced a new policy endorsement that ensures primary directors and officers (D&O) policy funds are immediately available to clients named as defendants in securities lawsuits for the preparation of “event studies.” The endorsement …

QBE North America Launches Management Liability & Professional Lines Coverages

QBE North America’s continues its expansion into the management liability & professional lines arena with the launch of three new products for public and private commercial companies and financial institutions and non-profit businesses. The three products currently available in the …