Excess Layers of D&O Insurance: Peeling the Onion

In the past, directors and officers generally recognized that their company should purchase D&O insurance, but they had little interest in the details. Besides the total amount of coverage purchased and the size of the deductible, little else was disclosed to the Board and few questions were asked. Instead, the risk manager was given wide discretion to evaluate and negotiate coverage terms that he deemed acceptable.

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Dan Bailey
Service Affiliation
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