Options Probe Highlights D&O Insurance Issues

Law360, New York (June 29, 2006, 12:00 AM EDT) -- With the options backdating investigation prompting a wave of lawsuits, companies with directors' and officers' liability insurance are breathing a sigh of relief, knowing that their legal costs are covered. But the soaring costs of litigation and the high price of D&O policies have companies and insurers at odds over when and how insurance companies should foot the bill.

D&O policies cover the legal costs for directors and officers named as defendants in any kind of claim based on a “wrongful act,” including securities suits filed...
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