How to Make Sure That Insurance and Indemnification Agreements Work for You

When a DOL Investigation or civil lawsuit is initiated, trustees and service providers often request indemnification from employee-owned companies – that means payment by the company of the trustee’s or provider’s attorneys’ fees and costs to defend and/or respond to the action. In this session we will discuss: • Issues often arise relating to insurance coverage and indemnification obligations. Are you – your company, the trustee, the service provider – knowledgeable about and prepared to address these issues when they arise?• The focus of this session is to educate employee-owned companies (CEOS, COOs, general counsel), trustees and service providers about indemnification provisions, to enable them to prepare for potential circumstances before they arise, including through the insurance they buy, in order to avoid costly disputes in the future.• As attorneys who represent companies and trustees in DOL investigations and lawsuits and in insurance coverage and indemnification disputes, we’ll discuss real-world examples and case studies of situations in which we have represented clients to help attendees avoid potential pitfalls in the future. Attendees will then participate in practical exercises to better understand how they may address such situations.
NCEO Publication: A Buyer's Guide to Insurance for Fiduciaries of ESOPs and Other Benefit Plans