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Specialty Risk

Aug 21

Regulatory Risks in Directors and Officers Insurance

By Business Insurance, Specialty Risk
Corporate regulatory risks can often be overlooked when discussing directors and officers (D&O) liability insurance. However, recognizing these risks is crucial for businesses, especially in today's complex regulatory environment. In this blog post, we will simplify the concept of corporate regulatory risks and highlight their significance for your organization. WHAT D&O INSURANCE COVERS First, let's briefly discuss what D&O insurance covers. This type of insurance protects directors and officers, as well as the company itself, from claims arising from their decisions or actions while carrying out their duties. It typically covers legal fees and settlements in lawsuits for wrongful acts…
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Jul 28

Navigating the Complex World of D&O Policies with Kapnick: A Case Study

By Insurance, Personal Insurance, Risk Solutions, Specialty Risk
Protecting Your Assets with Kapnick's Unique Approach: A Case Study A private client, invited to join a for-profit company board, faced a dilemma. The company's D&O policy didn't offer enough protection, and the client didn't want to risk personal assets. The company couldn't afford to increase their D&O coverage, and the client's personal policy didn't provide enough cover. The stakes were high - private company D&O claims can cost around $700,000 on average. A solution was needed, and quickly. This is where Kapnick shined. The team at Kapnick Risk Services collaborated with private client experts to craft an independent D&O…
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Aug 25

KSR Summary: PPP Insurance Summary

By Specialty Risk
Background: In connection with the COVID-19 epidemic, the U.S. Congress passed the CARES Act in order to provide financial support and relief to businesses and individual citizens. As part of the CARES Act, the Paycheck Protection Program (‘PPP’) was put in place to provide potentially forgivable loans to small businesses (under 500 employees) who were struggling financially due to the economic uncertainty of the pandemic. The PPP loans were administered by local, regional and national banks and the program is overseen by the Small Business Administration (‘SBA’). The Risk: Applicants for PPP loans needed to demonstrate that the loan request…
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