Extract to table

" D&O policies typically define "Insured Person" broadly to include any natural person who was, is, or shall become a duly elected or appointed director or officer of the Named Insured or any of its subsidiaries

Derivative litigation, in particular, often follows a protracted timeline: shareholders must first make a demand on the Board (or demonstrate that demand would be futile), and the reconstituted Board must evaluate and respond to such a demand

The typical effect of a change-in-control trigger is that the existing policy automatically converts to a "run-off-only" policy for the remainder of the policy term, meaning that the policy will cover only claims arising from Wrongful Acts committed prior to the change-in-control event, and the Named Insured must procure a new policy to obtain prospective coverage for the reconstituted Board

Under the FCA's Disclosure Guidance and Transparency Rules, shareholders who acquire or dispose of major shareholdings (at or above specified thresholds) must notify the Company and the FCA