News Article
View from the Hot Seat: What Directors and Officers Need to Know about Their Personal Liability
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Your suit is well tailored. Is your liability coverage?
Every decision made by management can carry the risk of litigation. That's why having the right protection is smart business.
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The worst time to learn what your policy language really means, is when you have a claim. We decode the fine print to ensure that the right words get you the best coverage.
An informal regulatory investigation can wreak havoc on your firm’s balance sheet while taking management’s eye off the ball. Keep the numbers in line with the right regulatory coverage.
From cyber extortion and white-collar crime to kidnapping and ransom, being an executive is risky business. We know what makes you a target. We protect you from people who want to take a shot.
Our Management Liability team was engaged by one of our West Coast offices to assist a large financial institution unhappy with its existing broker’s executive liability service. After digging into the client’s policy terms, the team discovered a serious weakness. The previous broker advised that the client had coverage when it came to informal SEC investigations. A careful analysis of the policy language showed this wasn’t true.
Information requests and management interviews wouldn't trigger coverage; a distinction that could leave the insured client with a potential $5 million problem. Our team understands that important problems are often shaded in the fine print. We dig deeper and negotiate the appropriate contract language that ensures our clients have proper coverage for real-world issues, like informal investigations.
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Neil currently leads a team of 10 management liability professionals in the Private Equity Practice Group and also Co-Lead the Management Liability Practice Group, in addition to his role on the Risk Strategies Executive Committee.
Neil heads up Risk Strategies’ National Private Equity Practice and its Krauter & Company division. Prior to founding Krauter & Company, Neil worked at Lloyd’s of London, Marsh, and AON, where he built out and managed the AON Mergers & Acquisitions Group. He was AON’s leading specialist in providing services to the Mergers and Acquisitions industry with well over 2,000 transactions to his credit.
Active in the private equity community, he launched the Private Equity Principal Group in 2014, which currently has over 130 members, and also serves on the board of the Private Equity CFO Association (PECFOA).
A leader in global Financial Lines with over 20 years of experience, Donovan develops strategic carrier partnerships to ensure market-leading terms and conditions, and ensures clients receive best-in-class services. He also constructs innovative market solutions through panels, MGUs and single carrier solutions.
Donovan has held key management positions with both Beazley and Willis North America, where he served as director and executive vice president, carrier relations. His broking includes expert executive liability program structure development and contract analysis, including Directors & Officers Liability, Employment Practices Liability, Professional Liability, Fiduciary Liability and Crime.
