BioAmber Inc fka BIOAQ

[kevroc]

Directors and officers (D&O) liability insurance covers directors and officers and/or their company or organization if sued. D & O insurance claims are paid to cover losses associated with the lawsuit, including legal defense fees. Most policies exclude fraud and criminal offenses.

Bioamber CFO to insurance agent: hey, can we get some fraud coverage in our policy?
Agent: do you anticipate anyone committing fraud?
BioCFO: well... we're thinking of liquidating our assets for a tiny fraction of their market value and probably WAY below appraised scrap value... is that "fraud?"
Agent: CLICK, dialtone...