directors and officers liability insurance
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This article was previously published by The In-House Lawyer.
ONE OF THE PURPOSES OF INCORPORATION is to absorb and contain liability within the cor...
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This Article explores the connection between corporate governance and D&O insurance. It argues that D&O insurers act as gatekeepers and guarantors of ...
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One of the purposes of incorporation is to absorb and contain liability within the corporate shell: the so-called corporate veil, behind which directo...
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Robert B. Stringer, Cyril & Crowley, San Francisco, CA, for plaintiff-appellant.
Arthur J. Shartsis, and Tracy L. Salisbury, Shartsis, Friese & Ginsb...
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(D&O) provides financial protection for the directors and/or officers of both public and privately held companies against suits filed against them in conjunction with the performance of their duties as they relate to the company. D&O insurance is usually written on a claims-made basis, meaning that coverage applies to a covered claim regardless of when the act or omission giving rise to the claim occurred, as long as the claim is made during the policy period. Most D&O policies do not impose a duty to defend on the insurer but do provide coverage for defense costs. However, the insurance company does have the right to associate with the defense and approve defense strategies, expenditures and settlements.
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This Article addresses the application in bankruptcy of an exclusion contained in many directors and officers liability insurance policies, namely, the "insured vs. insured" exclusion. Part I of this Article provides an overview of the development of directors and officers liability insurance policies. Part II of the Article identifies the legal principles governing the interpretation of insurance policies. Part III discusses the development of the "insured vs. insured" exclusion in directors and officers liability insurance policies. Part IV provides an overview of the sometimes inconsistent judicial decisions addressing the "insured vs. insured" exclusion in the bankruptcy context. Part V presents the author's proposed test for applying the "insured vs. insured" exclusion in bankruptc...
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Directors and officers face a wide and growing range of potential personal liabilities in the course of carrying out their duties. A directors' and of...
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Directors' and officers' liability insurance's usage
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A court has ordered a company to allow a shareholder to inspect its D&O policies. Inspection was to help the shareholder decide whether it was worthwh...
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Corporate general counsel and in-house counsel increasingly face the specter of being named as defendants in shareholder and other litigation, as a re...