The question isn't whether you will be sued, it's when.
The legal landscape for board members is complex and risky—recent developments include increases in securities lawsuits, M&A litigation, and emerging threats from claims related to cybersecurity, data privacy, and climate change. We had an interactive peer-to-peer discussion on understanding your director liability exposure and how to address it.
Discussion items included:
What insurance coverage do directors really need?
How does my company use its corporate governance documents to maximize protection to directors
What is the latest on legal, legislative and insurance considerations affecting your liability exposure?
Heightened liability for boards, particularly in mergers and acquisitions and cybersecurity.
Partner, Polsinelli P.C. Kansas City
Regardless of the nature of the matter, Barry Grissom formulates legal strategy for each client based on the same starting point: a solid understanding of how the client will define the word "win." With that foundational understanding, Barry draws on a rich history as a former United States Attorney to strategize and construct client-focused approach to government investigations and compliance matters. As a former prosecutor, Barry is positioned to offer insight gained while on the "other side of the curtain" and assists clients by helping them understand the mindset that often drives actions during an investigation or enforcement action.
His experience in government as a member of the Attorney General's Advisory Committee at the Department of Justice provides him with insight into the workings and policy considerations when companies face investigations and compliance issues. His areas of focus are Financial Technology Regulation and Government Investigations and Compliance - Civil and Criminal.
Mr. Grissom is a member of the Kansas Bar Association, American Bar Association, Member of several of the Attorney General's Sub-committees and the National Association of Former United States Attorneys.
Director of Human Resources and Leadership Development
Director of Human Resources, Cobb Strecker, Dunphy & Zimmerman, Inc.
In her role at CSDZ, Sharon has developed talent recruitment and training programs focused on development of the next generation of management liability technicians, using her broad based experience in commercial insurance, financial management and business development.
Sharon has spent more than 20 years working closely with clients to identify risk exposures and recommend risk mitigation strategies. She is recognized as a subject matter expert with extensive and broad based experience in management liability lines of insurance including Directors & Officers Liability, Fiduciary Liability, Employment Practices Liability and Cyber Liability and Network Security.
Sharon holds a Bachelor of Science degree from the University of South Dakota, Black Hills and is a licensed property and casualty agent.
Paul Knapp serves as Vice President of Vomela Specialty Company where his duties include mergers and acquisitions, legal, real estate management and investment, and family business office organization and management.
He currently serves as a Director of Venture Bank, The Catholic Community Foundation of Minnesota, the Minnesota Chapter of the National Association of Corporate Directors and several emerging private companies.
Paul graduated from The College of Saint Thomas (BA, Finance) and William Mitchell College of Law (JD). He regularly teaches on the subjects of on investment, growing private companies, family business offices, and building better boards of directors. He has been recognized as a Twin Cities Director of the Year and a Minnesotan to Know by the Twin Cities Business Journal.
Senior Vice President and Executive Risk Practice Leader
Ryan Anderson is a Senior Vice President at Hays Companies. He currently serves as National Practice Leader for the Executive Risk lines of coverage. His practice group specializes in risk management consulting and insurance placement for businesses with all levels of risk and across all industry segments.
Mr. Anderson has over 14 years of experience in the insurance industry, with particular focus on the Executive Risk Industry, including but not limited to Director’s and Officer’s Liability, Professional Liability, Employment Practices Liability and Fidelity Bonds.
Ryan started his career in insurance in 2003 when he joined The St Paul Companies, which eventually merged with The Travelers Companies. He continued at Travelers serving as an Account Executive Officer in the Bond and Financial Products Division. During his years at Travelers, Ryan specialized in the Financial Institution market with particular emphasis serving the Insurance Companies and Investment Adviser needs within their respective market segment.
In 2008 Ryan brought his experience and expertise to Hays Companies to further broaden the Executive Risk team. Beyond Financial Institutions, in his time at Hays Companies, Mr. Anderson has helped build the portfolio across all industry types and ownership structures.
Mr. Anderson received his B.S. in Finance from the Carlson School of Management at the University of Minnesota.
Dave Pearson is a senior partner at the Minneapolis law firm of Winthrop & Weinstine. He represents clients throughout the United States in complex commercial and corporate management related litigation. For over 30 years, Dave has been extensively involved in litigation relating to the duties and potential liabilities of corporate officers and directors. He has defended numerous public and private corporations and their directors and officers in securities fraud and breach of fiduciary duty claims arising under both state and federal law, including financial statement fraud, M&A claims, risk disclosure claims, SEC investigations, and other such claims and litigation. Dave’s practice also includes advising businesses regarding risk management and corporate governance issues. He received his undergraduate degree and law degree from Northwestern University.