D&O News

Skeptical AM Best Tags US D&O Segment With Negative Outlook

Rating agency AM Best has assigned a negative outlook to the U.S. directors and officers liability insurance segment as more market entrants increase capacity and drive down pricing in the face of some troubling potential risk exposures. “The current pricing …

SEC’s SPAC Rules Set to Limit Rosy Projections That Fueled Mania

At the height of the SPAC boom, liberated startups capitalized on the ability to tout lofty goals about the years ahead without much of a risk of legal fallout. Now, the US Securities and Exchange Commission’s new rules tightening SPACs’ …

Appeals Court Rules Insurers Not Obligated to Defend Opioid Distributor McKesson

The role drug distributor McKesson Corp. had in the opioid crisis was no accident, meaning the company is not entitled to defense costs related to litigation against it. McKesson Corp. appealed a district court’s ruling that subsidiaries of AIG and …

As DEI Comes Under Legal Attack, Companies Alter Their Programs

Sophia Danner-Okotie’s has ambitious plans for her Nigerian-inspired clothing line but a sense of dread has punctured her optimism as she watches a legal battle being waged against a small venture capital firm that has provided funding instrumental to her …

Allianz D&O Outlook: ESG Claims ‘Here to Stay’ and AI Rapping at the Door

While everyone may be talking about potential risks associated with generative artificial intelligence, a new directors & officers report from Allianz highlights a range of current concerns associated with environmental, social, and governance issues. Agree or not with the premise …

Catholic Nuns Sue Smith & Wesson to Halt its Assault-Style Weapons Sales

A group of Catholic nuns have sued the board of Smith & Wesson to try to force the gunmaker to abandon the manufacture, marketing and sales of assault-style rifles that have been used in U.S. mass shootings. The nuns, in …

US SEC Enforcement Collected Nearly $5B in Financial Remedies Last Year

The U.S. Securities and Exchange Commission (SEC) filed 784 enforcement actions in the fiscal year that ran through September, garnering $4.95 billion in penalties and other financial remedies, the agency said in a statement on Tuesday. The total financial remedies …

FTX Founder Bankman-Fried Drops Excess D&O Coverage Spat With CNA Unit

Several days after he was found guilty of one of the biggest financial frauds on record, FTX founder Sam Bankman-Fried dropped an insurance coverage lawsuit against excess insurance company Continental Casualty Co. Shortly before his trial began in early October, …

AIG Continues to Take Cautious Approach to Excess D&O in North America

Though American International Group (AIG) saw a turnaround in underwriting income in the third quarter, driven largely by business in North America, the company’s chief executive said financial lines offset growth. AIG’s third quarter underwriting income within its General Insurance …

Conservatives Challenging Nasdaq Board Diversity Rule Appeal to Full 5th Circuit

A conservative group that lost a challenge to Nasdaq’s board diversity disclosure rule appealed the decision on Wednesday, requesting a full court review and saying that the rule discriminates based on race and sex. The rule approved by the U.S. …