SDV has 25 years of experience in the insurance industry. Its singular focus on insurance coverage law and unwavering commitment to policyholders of all types have made it a leader in insurance litigation and risk management strategy.
There are many ways an insurance policy can affect the everyday life of both the individual property owner and companies alike. SDV uses its collective expertise and experience, developed over decades of work on insurance coverage matters, to help clients maximize the value of their insurance products. Our primary strategy is to advise clients before a loss by carefully vetting insurance policies and recommending
changes to eliminate potential gaps in coverage. If an insurance company challenges the coverage for a loss, we achieve optimum results through negotiation, alternative dispute resolution, and litigation.
SDV recognizes the unique coverage concerns of our high net worth clientele. From high-value property damage (including home, seawall, docks, yachts, etc.) to life insurance disputes, clients in this unique class of individuals are exposed to complex insurance challenges that must be addressed. Additional liabilities faced in a corporate capacity can add to one’s challenges, especially if they serve as corporate decision-makers in a C-Suite position (chief executive officer, chief operating officer, chief financial officer).
Corporate executives often focus on the challenges their organizations face but overlook their own exposure. These executives make daily, routine decisions that can expose them to personal liability in situations, such as:
- Fast-paced problem solving for the organization
- Employee decisions
- Shareholder actions
- SEC enforcement actions
- Taxes (potential personal liability arising out of decisions relating to their corporate taxes)
- Corporate data breaches
Depending on the company’s organizational structure, decision-maker liability may extend beyond C-suite and president/vice-president levels, down to secondary or middle managers. Anyone making employment-related decisions would rely on the organization’s D&O or EPL insurance, but that insurance is likely drafted in furtherance of the organization’s interests, even if those interests conflict with the decision-maker it is intended to protect. SDV can assist from the beginning by examining the individual’s employment contract and the Directors and Officers (“D&O”) insurance and Employment Practices Liability (“EPL”) insurance offered by the organization to make sure that the risk transfer strategy that the company has in place protects the executive from personal liability.
Know your risks and make sure you have:
- Adequate Insurance: D&O, EPL, and, if necessary, individual insurance
- Asset Protection Insurance
High-ranking executives are regularly asked to serve on boards of directors. With their industry knowledge, business acumen, and day-to-day management experience, they are the perfect candidates for board service, whether on an outside board or in their own company. However, executives must fully protect themselves from any individual liability before accepting a board position.
SDV understands the rights, duties, and potential liabilities that board members face. We can advise board members on how to establish full protections to limit their exposure, ideally before the board member begins his or her service.
Before taking a board position, you should ensure that the organization on whose board you will serve provides fully protective D&O and EPL liability insurance and that its charter or bylaws provide for indemnification of directors in the event of any claim or suit. In most cases, where such coverages and provisions are in place, SDV can advise you on the details specific to your situation, such as:
- How to read your current policies
- Your exposure to liability
- the gaps where you may need coverage
From the first negotiation through your board service period and beyond, SDV can help executives and board members protect themselves. SDV can ensure continued protection through periodic reviews of all relevant contracts, corporate-governance provisions, and insurance policies.
For more information, please email us at email@example.com.