Corporations and their directors and officers are frequent targets of lawsuits when shareholders, customers, vendors, suppliers, employees, creditors and other parties are displeased with a company’s actions.
Directors and officers liability insurance, often called D&O insurance, is a liability insurance product designed to protect the personal assets of the company’s leaders. D&O insurance policies provide legal defense and financial protection to corporate officers and directors in the event they are personally sued for actions taken on behalf of the company. Company leaders can be sued for a variety of reasons ranging from allegations of financial mismanagement to negligent business decisions. Without this coverage, corporate officers and directors run the risk of being held personally liable for millions of dollars in defense expenses and potential damages.
The legal team at Ver Ploeg & Lumpkin is well equipped to represent both companies and their individual officers and directors in coverage disputes involving D&O liability insurance claims. Our lawyers handle cases for companies of all sizes and shapes, from small closely held businesses, to non-profit organizations, to publicly-traded Fortune 500 companies. We are well known throughout Florida and throughout the country as a dedicated group of professionals experienced in negotiating, mediating and litigating cases involving disputes over an insurance company’s failure to defend and indemnify officers and directors in lawsuits arising out of their corporate responsibilities.
Disputes over D&O liability coverage often revolve around two threshold issues: (1) whether the directors’ and officers’ actions are covered under the policy and (2) whether the damages qualify as covered “loss” under the language of the policy. When covered and uncovered parties, conduct or “loss” is at issue, complex policy- and state law-driven issues of allocation also frequently arise. The attorneys at our firm have decades of collective experience interpreting complex corporate directors and officers liability insurance policies. These policies typically contain a myriad of exclusions that insurance companies will attempt to apply to avoid paying claims. When a carrier unreasonably denies a claim based upon a policy exclusion in the contract or for alleged public policy reasons, our lawyers will challenge the carrier’s actions and work to achieve a fair resolution for our client. Similarly, when an insurance company rejects a claim, asserting that the damages do not qualify as a “loss” under the terms of the policy, we are prepared to take all steps necessary to ensure that our clients receive full liability coverage. Whether a Miami insurance litigation lawyer at our firm is negotiating a settlement or trying the case in court, our objective is to secure the maximum amount of protection available for our clients.
If you are involved in a coverage dispute involving a claim under a D&O liability insurance policy, the lawyers at our firm are well positioned to handle your case. Our legal team will carefully evaluate your situation and work to obtain a successful resolution in the quickest and most cost-efficient manner possible. To schedule a consultation with a member of our insurance recovery team, contact our Miami or Orlando offices today at 305-577-3996 or contact us by email.