A couple days ago, the publisher of FC&S asked if we could weigh-in on the D&O insurance ramifications of the COVID-19 outbreak and related mass hysteria. As regular contributors, we immediately went to work interviewing insurance agents, brokers and risk managers across a wide range of industries. The opinions were far reaching but all predicted doom and gloom. There have already been plenty of articles published in various respected outlets and blogs, all with similar perspectives, except for one person who is an expert in D&O insurance. The following is a brief point of view of Contrarian, who prefers not to be identified.
Contrarian told us that he is not currently planning on drafting an article about COVID-19 related D&O exposures, in large part for two reasons. First, as explained below, he does not currently think current events will directly generate many virus-related D&O claims, although that could change if virus-related developments change dramatically in the coming weeks. In that event, our contact prefers not to have an article published now that downplays the D&O exposure.
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