The insurance market for financial institution D&O has been tightening due to large corporate failures and resulting D&O losses, and this has impacted the market for D&O (directors & officers) and GPL (general partnership liability) insurance coverage for private equity & venture capital groups. Their unique insurance needs present underwriters with a range of exposures. A a series of articles from law firm Debevoise & Plimpton highlights both the changing environment and coverage challenges private equity and venture capital firms face.
The articles are found in various editions of the Private Equity Report (see here). The first article is from the Summer 2009 edition, page 7, and discusses the current insurance renewal challenges (see here). The second article on page 19 of the Fall 2008 edition discusses insurance issues arising from bankruptcy (see here), and the third article on page 3 of the Summer 2008 edition addresses indemnification agreements and insurance (see here).
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The corporate setting should mend their ways to prevent the failures so that to improve the social market.
George@Insurance Agent Forum
Posted by: George | January 02, 2010 at 10:49 PM