August 3, 2023

Directors & Officers Liability, The Side A, B, Cs of Derivative Lawsuits Webinar Recap

This webinar discusses coverage under D&O Liability Insurance, how it responds to the unique nature of derivative lawsuits, and the recent surge in derivative claims frequency, severity, and complexity. Attendees will learn the critical areas of coverage for derivative claims, how Side A comes into play, and why derivative claims are the new high-risk exposure in the D&O space.

The speakers from this webinar, Mark Weintraub and Mareasa Rooks of Lockton Companies, provided some commentary on this session, sharing key takeaways and the importance of social inflation in the Professional Liability field. See his remarks below.

Why is this topic important for professional liability practitioners?

Derivative claims are increasing in frequency and severity and neither public nor private companies can ignore this critical risk. Practitioners should understand how D&O policies respond to derivative claims and what potential avenues exist to maximize coverage.

What are the top takeaways from this webinar discussion?

Evolving law and creative plaintiffs counsel theories have created a new risk environment for derivative claims and the impact of these claim must be factored into a D&O insurance program. Understanding policy nuances and how it will respond can prevent coverage issues and maximize recovery.

If someone is interested in learning more about this topic, are there other resources you would recommend for more information?

Derivative lawsuits are complex, but there are many resources discussing them under Delaware law, including the indispensable D&O Diary, ProfessorBainbridge.com, and many other excellent blogs and websites from the securities defense bar.

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Meet the Speakers

Mark Weintraub
Senior Vice President Insurance and Claims Counsel
Lockton Companies
Mark joined the Southeast Series of Lockton in 2012 and is a global legal and claim resource for management liability claims. Mark advises on executive lines of all kinds,
including D&O, GPL/E&O, EPL, Cyber and Crime.

In the role, he is responsible for providing clients with strategic advice and claims advocacy including coverage interpretation, reservation of rights responses, and coordination of resources available to clients through the entire life-cycle of claims.
Mark’s battle-tested claims consulting has helped clients achieve excellent results in complex claims, including multifaceted public D&O claims, Cyber ransomware attacks,
high-dollar Reps and Warranties claims, and other exposures that threatened full
towers. Mark also assists in negotiation and drafting of policy language to maximize client coverage as well as advising clients on strategies to enhance their coverage. Mark frequently consults with clients on corporate governance practices and specializes in customizing corporate indemnity obligations with D&O insurance programs.

Mark is a frequent author and lecturer on executive lines issues and is the lead author for Lockton’s National Claim Trends publications that identify and analyze important claim trends in the management liability space. He is a coveted speaker on insurance
and claims issues and has appeared on panels all over the country, including at PLUS, RIMS and Advisen.

Prior to joining Lockton in 2012, Mark served at Jones Day for 11 years, where he gained extensive experience defending private equity firms and Fortune 1000 clients in breach
of fiduciary duty actions, complex business tort and contract disputes, and products liability and securities claims in federal and state courts nationwide. Marks litigation experience allows him to provide real-world advice on the decisions clients face before,
during, and after claims arise.