Notification and Question of Coverage under a D&O Claims-Made Policy

June 17, 2013

We have a client that is a board member of a nonprofit organization. The organization closed its doors in 2011. After they closed their doors, one of their employees continued to use a credit card to purchase items. The bank sued the employee for the money that she used to purchase the items since her name was on the receipts and the credit card. The organization was notified in November 2011, but our client was not notified until May 2013.

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