 Directors
and Officers Liability
With the rise in highly publicized corporate scandals over
the past few years, the duties and responsibilities of directors
and officers are under much harsher scrutiny. The number
as well as extent of litigation settlements against corporations
has escalated while new liability issues continue to grow.
And while publicly held Fortune 500 companies have been
prominent targets for these lawsuits, mid-sized and privately
held companies also are facing the risk of costly litigation.
Wortham’s professionals have in-depth expertise in
advising our clients on directors and officers liability
insurance to cover a wide range of possible wrongful acts,
such as errors, omissions, negligent acts or breaches of
duty. Known as D&O liability coverage, this insurance
addresses liabilities associated with the corporation
as well as individuals. Coverage typically extends to past,
present and future directors and officers; trustees; outside
director positions; and the entity for
claims related to securities or employment practices. The
coverage includes the cost of settlements, judgments and
defense expenses associated with lawsuits and other legal
proceedings.
Fiduciary Liability
Wortham consults with clients on coverage of fiduciaries
to provide liability protection of wrongful acts committed
during the administration and management of pension and
welfare plans. These policies also cover breaches of fiduciary
duty by other persons for whom the insured is legally responsible.
Employment Practices Liability
Wortham advisors assist clients in procuring wide-ranging
employment practices liability policies that address employment-related
practice exposures, including wrongful termination, sexual
harassment retaliation and discrimination.
Crime
The majority of business insurance policies excludes or
restricts coverage for any loss of money and securities
as well as employee dishonesty. To protect your organization,
the Wortham team will obtain crime insurance to guard your
company against employee dishonesty, forgery or alteration,
computer fraud, extortion, robbery and safe burglary, theft,
disappearance, destruction, and premises burglary, theft
and robbery outside.
Kidnap and Ransom
As part of a comprehensive business insurance package or
as a stand-alone policy, your Wortham professional can assist
your company in obtaining a kidnap and ransom policy to
cover certain expenses in dealing with kidnappers and their
demands. These policies typically cover hostage negotiation
fees, lost wages and the ransom amount.
|
