Originally published in the May 2012 edition of the Law Journal Newsletters 2012, ALM Media Properties, LLC.
Most corporate counsel know that their D&O insurance may advance or reimburse defense costs, and settlements or judgements incurred in civil litigation naming their directors and officers (as well as the company if entity coverage is purchased). Depending upon policy terms, D&O insurance may also pay defense costs incurred in response to various Securities and Exchange Commission (SEC) actions as well, including an informal investigation, a formal order of investigation, a subpoena or an indictment. Coverage varies widely depending upon the D&O policy terms. Any corporate counsel approached by the SEC must tread carefully, as hundreds of millions of dollars in coverage have been lost by major corporations facing SEC matters.
The following are some inquires and suggestions designed to help in-house counsel secure their rights under D*O policies in SEC matters and derive the greatest benefit from their premiums.
Please see full article below for more information.
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