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You worked hard

You worked hard. But you still face risks…. Picture your future…. or perhaps you are already there…. You worked hard. Career CEO 2 companies 1 of which no longer exists - merger Thereafter served as Corporate Director 5 companies over a period of time 2 merged and no longer exist

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You worked hard

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  1. You worked hard But you still face risks…

  2. Picture your future… or perhaps you are already there…

  3. You worked hard • Career CEO • 2 companies • 1 of which no longer exists - merger • Thereafter served as Corporate Director • 5 companies over a period of time • 2 merged and no longer exist • 1 Bankrupt

  4. Personal Risk Management • You were diligent – to the nth degree • By-laws indemnified you to teeth • You had state of the art Directors & Officers (“D&O”) Liability Insurance in force • Sometimes you even saw it

  5. Welcome to the Good Life • Townhouse in Toronto perhaps NYC • Country Place North • Naples pied-a-terre • No kids at home (finally) • Golf memberships at all required locations • Personal Cash flow never an issue • Not too bad

  6. A couple of concepts for you… Watch closely…

  7. The Past Later The Future This is time

  8. Incident Occurred Suit is brought – Claim is made Occurrence Based Insurance Policy that was in force at this time pays – no matter when claim is made in future General Commercial Liability Products Liability generally work like this

  9. Incident Occurred Suit is brought - Claim is made D&O - Claims made Insurance Policy that IS in force at this time pays – covers past directors Subject to retroactive date going back far enough!

  10. D&O Claims Made Policy in force Incident Occurred Suit is brought - Claim is made Event i.e. Asset sale, wind down No coverage!! You were on the board here Change the timeline Insurance no longer in force or retroactive date does not go far enough back You are in Naples

  11. Now what?? Unload some property? Give up some golf memberships? Live with your kids?!

  12. We have solutions for you Preventative And, if needed Defensive

  13. We specialize in limiting business leaders’ legal liabilities Now and in the future… You should click here

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