Creative Planning’s Post

Could your executive team withstand the financial aftershocks of legal actions related to their corporate decisions? Directors & Officers (D&O) insurance is a safeguard, a shield for personal assets against the slings and arrows of litigation that target company leaders. It's a nuanced field with options tailored for various risks and scenarios. One such distinction is the robust Stand-Alone Side A policy—a niche offering that steps in where traditional policies might tread lightly. Unlike a broader D&O policy, Stand-Alone Side A exclusively protects directors and officers when indemnification is unavailable—think of it as an emergency fund for the worst-case scenarios. It's equipped with a 'Difference-in-condition' feature, setting a new standard in executive peace of mind. This feature acts as a financial safety net, ensuring that when the unexpected hits, there’s a plan in place that goes beyond the norm. As legal landscapes evolve and corporate accountability tightens, understanding the fine print of your D&O insurance becomes crucial. Over the next few posts, we’ll unravel these complexities, starting with why Stand-Alone Side A might just be the lifeline your executives never thought they’d need—but will be glad to have. Remember, when it comes to your Executive and Financial Risk Insurance, you don't necessarily get what you deserve; you get what's negotiated for you.

In today's ever-changing business landscape, insurance is an essential aspect that every small business owner needs to understand and prioritize. From protecting your business assets to safeguarding against liability, having the right insurance coverage is crucial for mitigating risks and ensuring the longevity of your enterprise.

🎉 New Beginnings, Renewed Protection! Welcome 2024 with KS Law Group 🎉 Happy New Year from all of us at KS Law Group! As we step into 2024, it's not just about new resolutions, it's about securing your peace of mind. Whether you're a homeowner facing the complexities of property claims, a contractor focused on your business, or someone stepping into the world of property insurance for the first time, we're here to ensure your year starts on a strong and protected note. 🏠 For The Overwhelmed Homeowner: Begin this year with the assurance that you're not alone in facing insurance challenges. We've got your back, ensuring you get the fair compensation you deserve. 👷 For The Busy Contractor: Focus on building dreams while we handle the legalities. Our efficient legal solutions mean you spend less time on paperwork and more on your projects. 🔑 For The First-Time Policyholder: Demystifying insurance claims doesn’t have to be your New Year’s challenge. Let us guide you through the process with clear, straightforward advice. 📄 For The Disappointed Claimant: Frustrated with past claim experiences? This year, let's turn the page. Our aggressive advocacy is committed to getting you the fair outcome you deserve. 🛡️ For The Proactive Planner: Stay ahead of the game. We provide the resources and advice you need to be prepared for any property-related legalities. This year, let's make sure your property and rights are well-protected. At KS Law Group, we passionately advocate for your needs, helping you navigate the insurance maze with ease. Don't just make a resolution, make a claim! Get in touch with us for a free consultation at 407-960-6965 or visit KS Law Group to learn more. 🌟 Here's to a year of security, success, and peace of mind. Happy New Year from KS Law Group - Let's Make A Claim! 🌟

Could your company survive the financial strain of defending its directors and officers against legal allegations without jeopardizing its future? Let’s take a look at the critical role of Side B D&O insurance coverage in safeguarding your organization. As an essential part of your corporate management and risk mitigation, Side B coverage in Directors & Officers (D&O) insurance policies plays a pivotal yet often underappreciated role. This vital safeguard is designed to protect organizations financially when indemnifying their directors and officers against claims, serving as a backbone to the corporate indemnification process. Imagine a scenario where a board member faces allegations requiring defense and potential damage reimbursements. Here, Side B coverage steps in, ensuring the organization can fulfill its indemnification agreements without jeopardizing its financial stability. This mechanism not only supports the individual directors but also preserves the organization's balance sheet integrity, reinforcing the symbiotic relationship between corporate governance and insurance protection. But why does this matter to you? In a world where, perhaps, every decision you make is increasingly being scrutinized, understanding the nuances of D&O insurance, especially Side B coverage, becomes crucial. It's not just about protecting individuals but securing the organization's future and fostering a culture of responsible governance. Remember, when it comes to your Executive and Financial Risk Insurance, you don't necessarily get what you deserve; you get what's negotiated for you.

https://lnkd.in/emtUG6gB Errors And Omission Insurance: Protecting Your Business From Costly Mistakes

Good morning Todd Smith and Kendall Harrison of Godfrey & Kahn. One more quick item. (Despite your apparent fixation I would be represented by counsel by now and your saying it is for some legal BS reason, I am not. I am not an attorney but can apply logic and reason and we all know I sure can argue, type, once in a while use big-boy-words, and I have at least experience if not expertise. So why the fixation I get counsel? You can only talk to an attorney since I am too dumb? Honestly!) You are telling people I do not know what I am talking about. Yet you have never spoken to me despite my many attempts - almost begging - to have a discussion with your firm before I started posting. Would have loved to have handled all this privately. Also reached out to Alan Ogilvie and Marsha Lindsay on the Board. All this can be easily proven so let's not be silly. Anyhoo, I will point out for all the many interested parties in insurance departments, employees and the press, that you have ever only stated I was wrong on two points: 1. Whether Rich Poirier was compensated as a Board Member of MHT Insurance after he sold CM Select and then joined the new entity's Board. A sale I note just a quarter before he appears to have been forced out possibly by the Board and CM's financial impairment was announced; and 2. No officers or directors were compensated as a result of the formation of the mutual holding company structure. I never said they were. And I believe 100% that is true. What I have VERY CAREFULLY always questioned, given what Rich Poirier told me in 2017, why compensation clause 3.11 was added to the formation, as it enables folks to be compensated IN ARREARS with no scrutiny from any objective parties. I must say given her actions, I now wonder if Marsha Lindsay got paid off too. Easy for someone to say AND PROVE they did not, right? If I am wrong a 30-60 minute conversation would help clear things up, if anyone ever cared to have one. I still would, as long as it is a debate with attorney Mike Ganzer, Regulators from outside Wisconsin, employees (not under threat), and the Press are welcome. In fact, I would be pleased to debate any and all current or former members of the CM Board at the University of Wisconsin Business School/ Would be a wonderful opportunity for UW students to learn so much about insurance, federal law, our regulatory system, business and ethics! Let's invite Marquette and the whole UW college system as well. Stop hiding and defaming and threatening and tortiously interfering and let's all get under the spotlight together! Sounds like great fun! Heck, I will even donate $10,000 to UW to help pay the expenses. (John Oliver, ya got my back, right? Maybe we could up this offer if you weigh in?) UW could easily sell tickets and make a tidy profit!

In today’s dynamic corporate world, protecting leadership from potential risks and lawsuits is paramount. Directors & Officers (D&O) insurance is key to that protection. In our newest blog, Anzen dives into why D&O insurance is gathering momentum in the industry and how our team is helping brokers protect their clients. #directorsandofficers #managementliability #executiverisk

“This declaration part shouldn’t even be there in the first place‼️” That was what I said to my senior agents when one of them approached me to sign it. One of my agents approached me to sign this Agency Leader’s declaration found in the Signatory declaration form of the insurer to change his signatory because the customer couldn’t remember his previous signatory, and by doing that the customer doesn’t has to take the trouble to go to the branch office. The situation was, I wasn’t there to witness the customer’s signing. I couldn’t declare as witness. It is a wrongdoing. So, as you can imagine, it was an unpleasant discussion. I told all my agents, not to sign as witnesses when they are not physically present to witness the signing. And likewise, as their leader, I do what I taught them to. Every form that the insurer makes available, I go with them, line by line explaining the logic of why such and such clause is necessary to safeguard. Hoping we, the ones in the risk planning field, truly practice what we pledge - be aware of the risks involved. Then, one senior agent said, “There is no right or wrong, just perception differs.” “No,” I said to him, “read the terms and conditions clearly, it states what it is. It is a compliance matter, not about you or my perception. There's no grey area here to work on” When I saw this form for the first time, I was surprised that the insurer included this section in the form. More like a time bomb to me. I am curious too, how many Agency leaders will follow their agents to witness the customer signing the change of a signatory. 🥲 this section of the form, is more for those hardcore risk-taking leaders, signing without witnessing. ‼️How can consumers protect your insurance agents? • do not sign a form when there’s no witness present to sign. • do not condone to a possible wrong doing which is non-compliance to your agents ethical practices. • do not choose what’s convenient or short cut that poise to a possible wrong doing. Like signing on behalf of trustee, simply sign a name of witness etc ‼️For all financial service consultants, insurance agents • we are the intermediaries of the insurer we represent, in any dealing with customers, share the process and info with the customers, according to the terms and conditions • guide the customer to use the right method. If a servicing means you have to trouble the customer has to go to the branch office, tell him/her. Never suggest the non-compliance method. It will become a habit, and one day because of one customer, you lose the license to service hundreds or thousands of customers who trust you. #Integrity is choosing to do the right thing rightly even when no one is watching, and not what’s convenient, thinking no one will know. By all means, still choose to do the right thing right. #ethical #wealthplanning #financialconsiltant #leadership