Lawyer Article
Directors and Officers Liability Insurance: What Every Corporation Needs to Know
February 6, 2006
Republished courtesy of The Litigator, a publication of the North Carolina Bar Association.
Did you know?
1. Most directors and officers liability insurance (“D&O insurance”) policies do not cover the costs, including attorneys’ fees, of responding to government investigations.
2. Most D&O insurance policies do not pay for the costs, including attorneys’ fees, incurred in responding to government subpoenas.
3. Nearly all D&O policies are "wasting policies," that is, defense costs reduce the amount of coverage. Large claims can cost millions of dollars to defend—monies which will not be available to satisfy the judgment or settlement.
In an article entitled Directors and Officers Liability Insurance: What Every Corporation Needs to Know Womble Carlyle lawyers Cal Adams and Garth Gersten provide an in-depth examination of D&O insurance and what you need to know.
Click here to read the full article (PDF format).
Additionally, the Firm will be conducting a seminar on this topic in three of its offices.
Click here to find out more about the D&O Seminar.
This document is intended as an informational reminder and does not constitute legal advice. If you have any questions or would like to discuss a particular situation, please contact Womble Carlyle Sandridge & Rice, LLP. The purpose of this article is to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances.