It is a common enough scenario ' a company purchases a directors and officers liability policy (a 'D&O Policy') ' to protect against any claims that may be brought against its directors and officers.
Post-Confirmation Settlement Agreements: The Implications on Insurance Proceeds
It is a common enough scenario ' a company purchases a directors and officers liability policy (a 'D&O Policy') ' to protect against any claims that may be brought against its directors and officers. The D&O Policy also may contain what is termed 'entity coverage' meaning that the policy may cover claims made both against the directors and officers, as well as the company itself. While the D&O Policy may be relatively straightforward in providing for the rights and obligations of the respective parties, if the company files for bankruptcy a whole host of issues arise. In this scenario, the laws governing bankruptcy and insurance may collide and, in some instances, are not easily reconcilable.
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Daniel S. Bleck And Scott H. MoskolThis premium content is locked for LawJournalNewsletters subscribers only
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