Does Your D&O Policy Really Cover Gov't Investigations?
Law360, New York (November 22, 2017, 11:04 AM EST) -- Policyholders need to be aware of a recent Tenth Circuit decision, MusclePharm Corp. v. Liberty Insurance Underwriters Inc., which calls into question whether and when a directors and officers policy will respond to a government investigation. Currently, there is a split among jurisdictions regarding coverage for government investigations, with the Tenth Circuit now falling into the no-coverage camp. This ruling highlights the importance of understanding the scope of investigative coverage your company is purchasing and the requirements for triggering coverage thereunder.
When the U.S. Securities and Exchange Commission or other government agency launches an investigation, companies can spend millions of dollars...
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