I am an insurance agent and disagree on that fact completely. How would TGG be covered when that is a disagreement between two parties. No insurable claim is causing the action i.e. like a claim against data not being cleaned off of a disk is a products completed claim. D& O coverage is insuring of individuals against a claim brought forth by a lwsuit that alleges their actions as a board harmed someone. The SEC is not under that guise and TGG has named Marc Sherman personally which would not be covered by D&O coverage. That would have to be under an excess liability policy. Employees/owners suing because of contract not being honored is not an insurable claim. Same with SEC investigation as that is dealing with a rule/law being violated which would violate any coverage under an excess liability policy. Libel/slander would be defended by insurance company but that is not the charge so I do not see that being covered so again who is paying?
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