D&O Insurance: Actions Not Undertaken in an "Insured Capacity" Not Covered

Many organizations purchase management liability insurance to provide liability and defense cost protection for their directors and officers. But the management liability insurance protects the individuals only for their actions undertaken in an "insured capacity." The policies are not ...

D&O Insurance: Fourth Circuit Affirms That Convicted Exec Must Repay Insurer for Defense Expenses

Lee Farkas, the criminally convicted former Chairman and majority shareholder of the defunct Taylor Bean and Whitaker Mortgage Corporation , must repay the nearly $1 million in defense fees the company's D&O insurer had advanced on his behalf, according to an April 11, 2013 Fourth Circuit...