Mutual Fund Directors Forum has begun offering members access to a tailored insurance policy designed to fill gaps in their existing coverage and provide peace of mind when it comes to shareholder derivative demand investigations, giving testimony as a third-party witness in civil litigation, participating in informal Securities and Exchange Commission inquiries or other regulatory requests.
This tailored coverage—provided by insurance brokerage Frank Crystal & Company and underwritten by Everest Specialty Underwriters—expands the scope of directors’ Side A difference-in-conditions (DIC) independent director liability (IDL) coverage. Side A coverage insures directors for loss when indemnification from the fund is not available; ....