Sompo International Executives Co-Author Article in PropertyCasualty360
Sompo International’s VP, Head of Commercial Management Liability Claims, Michael Rappaport, and AVP, Claims Counsel, Carla Caliendo, recently co-authored an article in PropertyCasualty360 with Ivan J. Dolowich, co-managing partner at Kaufman Dolowich & Voluck LLP. The article, “Recent wave of securities class actions poses challenges for D&O insurers”, discusses the factors contributing to the recent rise in securities class action lawsuits and the implications for D&O insurers who find themselves increasingly exposed to D&O claims involving these lawsuits.
The article cites both the growth in federal merger-objection lawsuits, which challenge M&A deals on grounds that the company's board of directors breached their fiduciary duties, as well as the recent shift in the filing of securities class actions from state court to federal court as major contributing factors in the recent uptick in SCA filings, and also note that certain industries—particularly companies in the fields of biotechnology, pharmaceuticals, and healthcare, may be targeted at a higher rate.
Read the full PropertyCasualty360 article