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HOT TOPICS IN D&O CLAIMS: Does the “Soft Market” Mean “Hard Coverage Positions” ?

HOT TOPICS IN D&O CLAIMS: Does the “Soft Market” Mean “Hard Coverage Positions” ?. Hot Topics in D&O Claims: Does a “Soft Market” Mean “Hard Coverage Positions”?. MODERATOR : Kristin Kraeger , Esq., Vice President/Counsel William Gallagher Associates

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HOT TOPICS IN D&O CLAIMS: Does the “Soft Market” Mean “Hard Coverage Positions” ?

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  1. HOT TOPICS IN D&O CLAIMS:Does the “Soft Market” Mean “Hard Coverage Positions”? New York City ~ February 6 & 7, 2008

  2. Hot Topics in D&O Claims: Does a “Soft Market” Mean “Hard Coverage Positions”? • MODERATOR: Kristin Kraeger, Esq., Vice President/Counsel William Gallagher Associates • Steven Gladstone, Esq., Senior Vice President, Claims XL Professional Insurance • Matthew L. Jacobs, Partner Jenner & Block • Lewis Loss, Esq., Partner Thompson, Loss & Judge • Susanne Murray, Esq., Executive Vice President Hilb, Rogal & Hobbs • Michael W. Smith, President, Domestic Claims AIG Executive Liability

  3. NotUsAgain Corporation (“NotUs”), a publicly-traded company receives a call on its fraud hotline. Whistleblower reports that the CFO used favorable dates for granting stock options to certain employees, including executives. NotUs launches an internal investigation and retains outside counsel to conduct an investigation into Whistleblower’s claims. THE WHISTLE’S BLOWN

  4. NOT YOUR AVERAGE RENEWAL • THE ISSUES • Claim or Circumstance? • Should the expiring policy be noticed? • Effect of Application Waiver • Effect of Specific Event Exclusion

  5. TO PROFIT OR NOT TO PROFIT? THAT IS THE QUESTION • THE ISSUES • Profit Exclusion • Disgorgement • Definition of Loss • CNL Hotels vs. Houston Casualty • Sever? Rescind? • ClearOne vs. National Union

  6. SHAREHOLDERS & SEC COME KNOCKING • THE ISSUES • “Duty to Co-operate” • “Waiving Privilege” • Can the broker destroy “privilege”? • Presumptive Indemnification • Derivatives –Indemnifiable? • Triggering Sides A,B,C

  7. THE SETTLEMENT – EVERYONE ON BOARD • THE ISSUES • Triggering Excess Limits • Shaving of Limits Endorsements • Allmerica vs. Lloyds • Comerica vs. Zurich • Payments under Side A,B or C? Does it really matter?

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