Directors & Officers
Directors of public corporations, private businesses, non-profits, trade associations, and charities are protected against the risk of personal liability by a combination of direct indemnification from their organization and by the purchase of D&O insurance. High-level executives and officers, and federal-agency executives, likewise can be protected by various forms of D&O insurance.
As policyholder lawyers, the Mayerson Firm PLLC represents Boards of Directors and individual directors and their companies regarding the proper presentation of claims for recovery from their insurance companies. This work can include pursuit of litigation or arbitration with the insurers, but usually can be resolved through effective negotiation with insurers.
Individual directors can look to the firm for guidance in how properly to demand indemnification first pursuant to the corporate indemnity and alternatively from the D&O insurance.
The two most likely scenarios to produce D&O claims are corporate acquisitions and divestitures and bankruptcy of the company. Marc Mayerson has broad experience in both. He has worked with the boards of companies being acquired by others to ensure the smooth transition of protection of the soon-to-be-former board members through purchase of run-off D&O protection. Similarly, in the context of the bankruptcy of the company itself, Marc has safeguarded the separate interests of board members of the debtor to ensure that defense costs and settlements continued to be paid without interruption by insurers.
As coverage counsel, Marc Mayerson, for example, helped secure recovery from D&O insurance for former board members of Solyndra regarding federal criminal investigations and Congressional inquiries.
Perhaps the highest-value component of our insurance-coverage work concerns reviewing and modifying policies at the time of underwriting and purchase. Our national perspective and nearly thirty years' experience enables the firm to identify potential gaps or traps in the coverage and to suggest more policyholder-favorable language. By routinely assisting boards and their members through working with their risk managers and insurance brokers, The Mayerson Firm PLLC ensures that directors and executives are well protected from the risk of liability from their service.