Today's blog post is the third video in a series by Miller
Friel attorney Tab Turano discussing the kind of insurance policy
reviews that are routinely conducted corporate policyholders.
This video continues with the need for a yearly audit of claims and
potential claims as part of the insurance renewal process.
This video focuses on the so-called
"notice-of-circumstances" clause contained in standard
D&O policies. This provision affords companies the
ability to provide notice of events, circumstances or other
potential wrongful acts that, although not currently the subject of
any legal proceedings, may later lead to the filing of a lawsuit
against the company. The video highlights, by way of example,
the benefit of reporting such potential future claims to D&O
insurers prior to policy expiration, and the practical significance
of such actions, including the ability to preserve the limits of
liability of current D&O policies.
