Insurance

Director and officer (D&O) insurance policies typically cover certain claims against the D&Os by third parties (often shareholders) and claims by a trustee in bankruptcy. The policies also cover certain claims against the debtor company. This panel will discuss the different coverages, the types of claims that may be pursued against officers and directors by shareholders, creditors and a bankruptcy trustee, defenses often asserted to the claims, and potential policy exclusions that may affect coverage.

This panel will first review the scope and types of coverage actually found in a typical E&O Policy and D&O Policy. Second, the Panel will discuss how claims are made under these policies with emphasis on how to assert or plead a claim so as to preserve coverage. Third, the Panel will discuss the law governing the treatment of such policies as “property of the estate” and finally, they will review the treatment and possible priority of claims that are asserted and adjudicated against the Debtor prepetition.