Securing Insurer Advancement of Defense Costs Under D&O Policies

Very soon after counsel is retained with respect to a new matter, counsel should discuss with the client whether there is potential insurance coverage and whether the appropriate insurers have been notified. This is true whether the new matter concerns a lawsuit, a threatened claim or a regulatory investigation or inquiry. But providing timely notice to the insurers is just the first step. There are a number of other issues that outside counsel should consider in order to protect the client’s right to advancement of defense costs under the client’s directors and officers liability insurance policies. In this article, partner Howard Epstein and special counsel Theodore Keyes discuss ways in which counsel can help protect a client's right to insurance coverage for legal defense fees.