A surge in lawsuits by investors and anticipation of another covid wave are to blame for the large increase in insurance rates for directors and officers. As insurance rates increase by half and appear to be heading for a triple-digit increase, firm partners across the US are seeking creative ways to provide coverage. Tesla CEO, Elon Musk, recently made the decision to insure his team of directors and officers from his own pocket. 

Webb Sanders & Williams can assist in evaluating your company’s insurance needs, and provide advice on risk management. If you have questions about your protection as a board member or about protecting your board of directors, contact our office at 662-844-2137.

https://www.claimsjournal.com/news/national/2020/06/16/297684.htm