A Common Exclusion That Puts Your D&O Coverage At Risk

Law360, New York (August 7, 2015, 12:38 PM EDT) -- Professional services companies need to be extra careful when placing directors and officers liability coverage to ensure that their policies don’t take away with one hand what they appear to give with the other. A new district court ruling suggests that a professional services exclusion found in most D&O policies may erase most of the coverage such companies believe they’re purchasing.

Banks and other financial institutions, like most companies, usually carry D&O insurance to protect themselves and their decision makers from claims of alleged "wrongful acts," including alleged negligence or misleading statements. They may also have errors and omissions or professional...

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