Your D&O Broker should understand:
- Business practices including complex transactions - mergers and acquisitions - and accounting policies
- The broadening range of potential allegations by shareholders, customers, employees, government, competitors and other stakeholders
- Securities regulation issues - the implications of the growing percentage of non-Canadian shareholders - IPO - and other financing including the comparative risk of NASDAQ and alternative stock markets
- Special industry circumstances which tend to heighten underwriters' awareness - High Technology, Not for profit and similar issues.
Actively and regularly, your D&O Broker should:
- Deal with all major D&O markets in North America, London and beyond - and alternative risk facilities including Bermuda
- Present your business case to underwriters to obtain the most favorable terms and conditions
- Operate as a mini-national broker connected to the principal business centers of the world - fully aware of expanding international liabilities
- Work on a proactive basis - forecasting insurance market trends - developing strategies to deal with "the effect on you."
- Keep in contact and working with known D&O defense counsel.
- Remain on top of - and participating in - the development of coverage enhancements to improve and clarify your D&O position.
On an in-depth basis, your D&O Broker should:
- Know the relationship of D&O covers/exposures to other exposures such as environmental - product - pension - operations - automobile - on a corporate and personal level.
- Assess and monitor the development of reported D&O case law.
- Maintain a full D&O library including the Wyatt Report & Survey, MAPS, and other data base services.
- Have access to loss control information and expertise
