Ensuring corporate misconduct : how liability insurance undermines shareholder litigation / Tom Baker and Sean J. Griffith.

Format:

Book

Author/Creator:

Baker, Tom, 1959-

Contributor:

Griffith, Sean J.

Language:

English

Subjects (All):

Executives' liability insurance--United States.

Executives' liability insurance.

Executives' liability insurance--Law and legislation--United States.

Stockholders' derivative actions--United States.

Stockholders' derivative actions.

Liability insurance--United States.

Liability insurance.

Physical Description:

1 online resource (295 p.)

Edition:

1st ed.

Place of Publication:

Chicago ; London : University of Chicago Press, 2010.

Language Note:

English

Summary:

Shareholder litigation and class action suits play a key role in protecting investors and regulating big businesses. But Directors and Officers liability insurance shields corporations and their managers from the financial consequences of many illegal acts, as evidenced by the recent Enron scandal and many of last year's corporate financial meltdowns. Ensuring Corporate Misconduct demonstrates for the first time how corporations use insurance to avoid responsibility for corporate misconduct, dangerously undermining the impact of securities laws. As Tom Baker and Sean J. Griffith demonstrate, this need not be the case. Opening up the formerly closed world of corporate insurance, the authors interviewed people from every part of the industry in order to show the different instances where insurance companies could step in and play a constructive role in strengthening corporate governance-yet currently do not. Ensuring Corporate Misconduct concludes with a set of readily implementable reforms that could significantly rehabilitate the system.

Contents:

Introduction

Shareholder litigation

An introduction to directors' and officers' liability insurance

The puzzle of entity-level D&O coverage

Pricing and deterrence

Insurance monitoring and loss-prevention programs

The D&O insurer at defense and settlement

What matters in settlement?

Coverage defenses and disputes

Policy recommendations: improving deterrence.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

9786613058089

9781283058087

1283058081

9780226035079

0226035077

OCLC:

703138014