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Tesla opted against renewing its D&O policy for the 2019-2020 year 'due to disproportionately high premiums.' (Photo: Andrew Harrer/Bloomberg) Tesla opted against renewing its D&O policy for the 2019-2020 year ‘due to disproportionately high premiums.’ (Photo: Andrew Harrer/Bloomberg)

(Bloomberg) — When Elon Musk said in April he was dropping the insurance policy that protects Tesla Inc.’s board from shareholder lawsuits, it got Skip McBride’s attention.

To McBride, who used to manage law firm Bracewell LLP’s malpractice exposure, Musk’s decision to insure Tesla’s directors out of his own pocket was a first — and a risky move.

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