New D&O product for independents.Hartford Financial has introduced "Priority Protection--IDL" a product that provides liability protection for independent directors. The coverage is triggered when a company is prevented by law from indemnifying its directors, fails or refuses to do so, or is unable to indemnify To compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. Insurance companies indemnify their policyholders against damage caused by such things as fire, theft, and flooding, which because it has Filed for bankruptcy. Standard directors and officers insurance has become an incomplete solution, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Hartford Financial, and recent studies show a dwindling dwin·dle v. dwin·dled, dwin·dling, dwin·dles v.intr. To become gradually less until little remains. v.tr. To cause to dwindle. See Synonyms at decrease. supply of willing, qualified directors. Unless they have assurance of personal coverage, board membership is becoming risky for independent directors, said Michael Price
Michael F. Price (born 1953) is a value investor and fund manager in Far Hills, New Jersey. , vice president of Hartford Financial Products, a unit of Hartford Financial. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion