Patrick Moran, senior counsel in the Chicago office, authored an article for the January 23, 2012 issue of Business Insurance magazine titled "Fiduciary risks evolving at private, nonprofit firms."
Directors and officers of private and nonprofit institutions are increasingly facing liability pertaining to their fiduciary obligations, particularly for breach of fiduciary duty, misrepresentation of facts, failure to avoid conflicts of interest, and failure to monitor plan investments. New 401(k) fee disclosure rules have the potential to increase lawsuits, making the need for quality D&O insurance critical to minimize the exposures directors and officers may face.
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