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Darin J. McMullen and William G. Passannante to speak at the Delaware Valley RIMS Chapter on 'Everything a Risk Manager Needs to Know About D&O Liability Insurance' on Tuesday, December 9, 2014.
While D&O insurance provides essential liability protection to directors, officers and companies, the claims process is a minefield for policyholders. A risk manager needs to know which policy provisions to insist on and which to avoid as well as how countering typical insurance company defenses once a claim is filed, and how to keep an insurance company on board while settling a suit. This session will cover these essentials. Key policy language issues include "severability" of coverage for insurers not implicated in wrongdoing; priority of payment provisions when multiple parties are all seeking coverage; and the scope of "bad acts" exclusions. Settlement issues include satisfying the insurer's desire for information and right to "participate" in a settlement, as well as whether settling with the primary insurance company can arguable endanger excess coverage.
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