• Insuring Against Responsible Corporate Officer Liability
  • March 26, 2012 | Author: Gregory G. Schwab
  • Law Firm: Saul Ewing LLP - Philadelphia Office
  • A new insurance product has come to market for individuals and corporations looking to shield themselves from the risk of a responsible corporate officer (“RCO”) prosecution. Corporate insurance broker Marsh and insurer Allied World Assurance Co. have joined to sell what appears to be the first of this type of policy - called RCO Corporate Response - which will cover the costs associated with RCO investigations and related enforcement actions. The insurance would also cover the cost of administrative exclusion proceedings, and a portion of an executive’s annual compensation.