Kevin LaCroix

Kevin M. LaCroix is an attorney and Executive Vice President, RT ProExec, a division of R-T Specialty, LLC. RT ProExec is an insurance intermediary focused exclusively on management liability issues.

Firm/Organization: Kevin LaCroix

Blogs: The D&O Diary

Latest Articles

The D&O Diary

Guest Post: Avoiding Event Driven Litigation through Good Cybersecurity Governance

By Kevin LaCroix

February 13, 2020

In the following guest post, Paul A. Ferrillo takes a look at the recent findings that the SEC Office of Compliance, Inspections and Examinations issue with respect to its cybersecurity examinations of registered investment advisers and broker dealers. The findings, Paul suggests, provides good guidance from a number of perspectives with regard to cybersecurity governance issues. Paul is a partner with McDermott, Will & Emery. I would like to thank Paul for allowing me to…

The D&O Diary

Guest Post: D&O Insurance Pricing Trends

By Kevin LaCroix

February 13, 2020

As I have noted in prior posts, and as a result of a number of factors, the current marketplace for D&O insurance marketplace is disrupted, with many buyers experiencing significant price increases. In the following guest post, Jeff Hirsch, Head of Product at Scale Underwriting, takes a detailed look at current D&O insurance pricing trends. A version of this article previously was published on the Foundershield blog. I would like to thank Jeff and…

The D&O Diary

EEOC Charges Filed in FY 2019 Declined to Lowest Level in Years

By Kevin LaCroix

February 12, 2020

The number of workplace discrimination and harassment charges filed with the U.S. Equal Employment Opportunity Commission (EEOC) during Fiscal Year 2019 (which ended September 30, 2019) declined to the lowest level since at least FY 1997 (the earliest year reported on the agency’s website), according the EEOC’s recent statistical release. The number of charges overall had also declined in the 2018 fiscal year, but in 2018, the number of sexual harassment charges had increased, apparently…

The D&O Diary

Directors’ Duties in Insolvency and the D&O Insurance Implications

By Kevin LaCroix

February 11, 2020

A recent judicial ruling out of the U.K. provides an interesting perspective on director’s duties under applicable law when a bankrupt company is in liquidation. As discussed below, the Court held that the director’s duties continue in relevant respects even if the director’s powers cease as of the date of the bankruptcy filing. The circumstances of the case provide an interesting example of a claim that arose against a former director post-liquidation. As discussed below,…

The D&O Diary

Broad Form Statutory Claims Exclusion Does Not Preclude Coverage for Common Law Claims

By Kevin LaCroix

February 10, 2020

Policy exclusions with the broad “based upon or arising out of” sometimes may be applied very broadly to sweep beyond the claims that the exclusion aimed to exclude. In a recent coverage dispute, a professional liability insurer sought to apply an exclusion with the broad preamble language and precluding coverage for ERISA and securities law claims in order to preclude coverage even the common law and bankruptcy law claims alleged against the insured. In a…

The D&O Diary

Despite Factual Overlap, Later Claim Unrelated to Prior Demand and Suit

By Kevin LaCroix

February 9, 2020

In numerous prior posts, I have meditated on the meaning of “relatedness” and what it takes to make two claims sufficiently similar that they should be treated as the same claim. That was the question that a Pennsylvania federal district court addressed in a recent decision in an insurance coverage dispute. As discussed below, on January 27, 2020, Eastern District of Pennsylvania Judge Timothy J. Savage, applying Pennsylvania law, concluded that, despite overlaps,…

The D&O Diary

Guest Post: Side A Excess D&O Insurance: Why Directors Need a Lot of It — Now!

By Kevin LaCroix

February 7, 2020

In the following guest post, Paul Ferrillo, a partner in the McDermott, Will & Emery law firm, takes a look at Excess Side A insurance and discusses its importance as part of a well-structured D&O insurance program. I would like to thank Paul for his willingness to allow me to publish his article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s…

The D&O Diary

McKesson Opioid-Related Derivative Suit Settles for $175 Million

By Kevin LaCroix

February 6, 2020

In business meetings during my recent European visit, one topic that came up is the widespread liability risks arising out of the opioid crisis. One particular question I was asked was whether, in addition to everything else, the opioid crisis presented D&O risks. I was quick to refer to the various U.S. securities class action claims that have arisen (about which refer here) and to assure my hosts that there were indeed many…

The D&O Diary

Guest Post: Key 2019 Management and Professional Liability Insurance Coverage Decisions

By Kevin LaCroix

February 5, 2020

In the following guest post, Alison Finn, Claims Counsel, DWF Claims; Elan Kandel, Member, Bailey Cavalieri; and James Talbert, Associate, Bailey Cavalieri, take a look at the most important management and professional liability coverage decisions for 2019, involving the perennial coverage issues for insurers and policyholders. I would like to thank Alison, Elan, and James for allowing me to publish their article as a guest post on this site. I welcome guest post submissions from…

The D&O Diary

Guest Post: Potential D&O Risks Arising from Corporate Social Responsibility

By Kevin LaCroix

February 4, 2020

The long-standing and traditional view is that corporations’ objectives should be to maximize shareholder value. More recently, a variety of commentators and observers have argued that corporations have larger social responsibilities. However, as discussed in the following guest post from Eric C. Scheiner and Jennifer Quinn Broda, efforts by companies to fulfil corporate social responsibilities may involve their own risks and even result in D&O claims. By the same token, failing to take action could…

Kevin LaCroix

Guest Post: Avoiding Event Driven Litigation through Good Cybersecurity Governance

Guest Post: D&O Insurance Pricing Trends

EEOC Charges Filed in FY 2019 Declined to Lowest Level in Years

Directors’ Duties in Insolvency and the D&O Insurance Implications

Broad Form Statutory Claims Exclusion Does Not Preclude Coverage for Common Law Claims

Despite Factual Overlap, Later Claim Unrelated to Prior Demand and Suit

Guest Post: Side A Excess D&O Insurance: Why Directors Need a Lot of It — Now!

McKesson Opioid-Related Derivative Suit Settles for $175 Million

Guest Post: Key 2019 Management and Professional Liability Insurance Coverage Decisions

Guest Post: Potential D&O Risks Arising from Corporate Social Responsibility

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