In today's blog post, Miller Friel Attorney Tab Turano
discusses the basics of insurance policy review for corporate
directors and officers ("D&O") D&O insurance
programs. Companies purchase D&O insurance to protect against a
wide-array of liabilities, from securities lawsuits to governmental
investigations. Often times, corporate policyholders accept either
off-the-shelf policies offered by insurance carriers, or
pre-approved insurance broker enhancements. These form policies and
broker enhancements are seldom state-of-the-art, and can always be
improved. Unless the language is truly boilerplate in nature,
Insurance companies are open to negotiation. The best language
maximizes insurance coverage, rather than minimizes it, but this
kind of language is not what is offered. For this reason, many
corporations retain insurance coverage lawyers at the underwriting
stage to provide a second look at proposed coverage. Counsel can
combine their knowledge of both the
