Why D&O Insurance Remains a Key Component of Every Company's Risk Management Program

D&O insurance is widely held by almost every public corporation, as well as by many private and not-for-profit corporations. It is often not well-understood by lawyers and differs significantly from more familiar policies such as commercial general liability (CGL) insurance and property coverage. Despite being broadly written as a type of all-risk policy, it excludes the core coverage of a CGL policy - bodily injury, damage to tangible property, and sometimes personal injury torts. 

This program, presented by Weber Gallagher partner Joseph Monteleone and Ty Sagalow of Innovation Insurance Group, will focus on the key features of the D&O policy and practical suggestions as to working with the insurers in the defense and resolution of claims under the policy. Recent developments in important case law from New York, New Jersey, and other key jurisdictions will also be discussed, along with general updates on the  D&O insurance marketplace.

Learning Objectives:

1. Identify the basic insuring agreements under the policy

2. Comprehend the absence of a duty to defend and defense costs included within limits of liability

3. Grasp Side A only forms and corporate indemnification issues

4. Gain familiarity with the concept of Notice of Circumstances and the need for specificity

5. Examine bankruptcy implications and settlement issues

6. Review recent developments in relevant case law

7. Handle issues including Reservations of Rights Letters, Timely Insured Communications, and Consent to Settlement

8. Discuss key contested exclusions and other issues, such as:

9. 1. War/terrorism (including "cyber-war")

   2. Bump-up

   3. Coverage for appraisal actions

   4.  D&O insurance issues in SPOAC-related litigation

   5.  Continuing disputes over related claims and interrelated wrongful acts policy provisions, including straddle claims

   6. Covid-19 Related D&O Litigation

10. Analyze excess/primary insurance relationships, including shaving limits/drop-down/exhaustion issues and timeliness of insured communications

11. Study common application issues, like warranties, M&A Disclosures, and the role of the insurance broker