Shareholder plaintiffs bringing derivative actions typically sue the directors and officers “in the name and for the benefit of” the company in which they hold shares, alleging harm done to the company through breaches of various duties.

The Government Accountability Office has sounded the alarm on National Flood Insurance Program shortcomings and has called on Congress to restructure the program.

For directors and officers liability insurers facing a potential influx of claims arising from lawsuits that banking regulators are filing against their insureds, a key question is whether regulatory exclusions in their policies will hold up.

With a deadline looming for states to adopt regulations over the collection and disbursement of surplus lines taxes to comply with provisions of the Nonadmitted and Reinsurance Reform Act, two competing proposals have developed, but inaction might be the best news MGAs and brokers could hear.