Quote:
Originally Posted by MTI
My comment was based on experience that most plaintiff's don't seek defamation awards from regular folks, since there is no insurance coverage and then collecting damages on a verdict is not only subject to the whims and whimsy of the trier of fact, but also on the financial ability of the defendant to come up with the money.
Where the defendant has independent means or resources to satisfy an award or enter into a meaningful financial settelement, that economic consideration is easier to figure out.
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That still does doesn't square with the blanket statement you made, but that is my opinion. Also, it doesn't coincide with my experience regarding the Plaintiffs that have come to me with defamation claims.
No coverage to defend, or to indemnify?
My experience is that oftentimes E&O carriers will pay cost of defense and not seek indemnification against covered board members/officers if there is a reason to want to keep the block of business.