D&O

SAR Closes on Capital Raise and Formalizes Board of Directors

Retrieved on: 
Tuesday, May 2, 2023
Insurance, D&O, SAR, Risk management, Goldman Sachs, Gilbert Daniel Nessim, Uniformity and jurisdiction in U.S. federal court tax decisions, Life insurance

Anthem's investment provides SAR with long-term growth capital to execute on the organization's mission and innovation roadmap.

Key Points: 
  • Anthem's investment provides SAR with long-term growth capital to execute on the organization's mission and innovation roadmap.
  • SAR also welcomes Daven R. Shastri, Managing Partner of Anthem, to the newly created Board of Directors.
  • Shastri brings proven institutional investing experience to the board with tenures at Goldman Sachs and Diameter Capital Partners prior to founding Anthem.
  • Leading global insurance companies rely on the SAR Platform with integrated fit-for-purpose data analytics tools to protect publicly traded companies and their directors and officers.

SAR Closes on Capital Raise and Formalizes Board of Directors

Retrieved on: 
Tuesday, May 2, 2023
Insurance, D&O, SAR, Risk management, Goldman Sachs, Gilbert Daniel Nessim, Uniformity and jurisdiction in U.S. federal court tax decisions, Life insurance

Anthem's investment provides SAR with long-term growth capital to execute on the organization's mission and innovation roadmap.

Key Points: 
  • Anthem's investment provides SAR with long-term growth capital to execute on the organization's mission and innovation roadmap.
  • SAR also welcomes Daven R. Shastri, Managing Partner of Anthem, to the newly created Board of Directors.
  • Shastri brings proven institutional investing experience to the board with tenures at Goldman Sachs and Diameter Capital Partners prior to founding Anthem.
  • Leading global insurance companies rely on the SAR Platform with integrated fit-for-purpose data analytics tools to protect publicly traded companies and their directors and officers.

New Data Reveals Shifting Insurance Priorities, Pressures as Startups Extend Financial Runway During Fiscally Tumultuous 2022

Retrieved on: 
Tuesday, May 2, 2023
Insurance, Professional Services, D&O, Policy, Employment, Tech, Philadelphia Managing Director's Office, Error, Depression, Cyber, Report, Employment practices liability, Investment, Risk, Growth, Environment, Liability insurance, Cryptocurrency, D

While E&O/Cyber premiums grew as well, overall investments in these policies stabilized compared to the frenzied uptick in cyber policy protections in 2021.

Key Points: 
  • While E&O/Cyber premiums grew as well, overall investments in these policies stabilized compared to the frenzied uptick in cyber policy protections in 2021.
  • “Last year challenged startups in unique ways, forcing them to recalibrate their risk tolerance to extend their runway,” said Ben Jennings, Chief Revenue Officer (CRO) of Embroker.
  • “In 2022, strong economic headwinds led founders to be more selective and conservative in their insurance protections.
  • EPLI had the highest year-over-year premium change from 2021 to 2022, with a 31% increase in average premiums.

The Brattle Group Welcomes Bankruptcy & Restructuring Expert David Lorry as Senior Consultant

Retrieved on: 
Monday, April 24, 2023
Bankruptcy, D&O, Senior counsel, Brattle Group, Consultant, Sale, Investment, Principal, D, Financial services, Security (finance)

WASHINGTON, April 24, 2023 /PRNewswire/ -- The Brattle Group has welcomed David Lorry to its Washington, DC office as a Senior Consultant in the firm's Bankruptcy & Restructuring practice.

Key Points: 
  • WASHINGTON, April 24, 2023 /PRNewswire/ -- The Brattle Group has welcomed David Lorry to its Washington, DC office as a Senior Consultant in the firm's Bankruptcy & Restructuring practice.
  • "He will be a tremendous asset to our growing Bankruptcy & Restructuring practice, and finance-focused team more broadly, and we are thrilled to welcome him to Brattle."
  • "I am excited to transition into consulting with the recognized leading bankruptcy and securities experts at Brattle," said Mr. Lorry.
  • Prior to joining Brattle, Mr. Lorry was a Managing Director and Senior Counsel, advising private equity funds and their portfolio companies.

BRP Group and Nasdaq’s Second Annual Directors and Officers (D&O) Benchmarking Report Reveals Significant Decrease in Rates Year over Year

Retrieved on: 
Wednesday, April 19, 2023
Insurance, Professional Services, BRP, Global Industry Classification Standard, IPO, Additional insured, Senior, D&O, Certification Commission for Healthcare Information Technology, Health care, Policy, Commander, U.S. Pacific Fleet, National Management Association, Initial public offering, Environment, Health insurance, D

More than 350 public companies participated in this year’s survey, conducted in collaboration with Nasdaq, Inc. (“Nasdaq”).

Key Points: 
  • More than 350 public companies participated in this year’s survey, conducted in collaboration with Nasdaq, Inc. (“Nasdaq”).
  • In fact, the Nasdaq-listed public companies that were surveyed, on average, saw their primary D&O insurance layer decrease by 20 percent in 2022.
  • One finding of note was that even in this environment of rate decreases, companies are opting for lower coverage amounts.
  • For a copy of the executive summary and information about obtaining the full report, please click here .

Embroker Business Insurance Shopping Habits Post-SVB Collapse Reveal Rising Concerns for Startup Leadership

Retrieved on: 
Wednesday, April 19, 2023
Security, Professional Services, Technology, Insurance, Software, Uncertainty, EPL, Pressure, White House, D&O, Face, Eye, Fear, Silicon Valley Bank, Shock, Prognosis, Season, Silicon, Frugality, Cyber, Employment practices liability, SVB, Risk, Health, VC, Cryptocurrency, Online shopping, Airline, Tech, D

Embroker , the digital platform making it radically simple to get business insurance, found that 15% of shoppers looked at doubling and sometimes tripling their Directors and Officers (D&O) insurance limits week-over-week, up from 7% the week before the SVB collapse.

Key Points: 
  • Embroker , the digital platform making it radically simple to get business insurance, found that 15% of shoppers looked at doubling and sometimes tripling their Directors and Officers (D&O) insurance limits week-over-week, up from 7% the week before the SVB collapse.
  • By analyzing real-time business insurance shopping behaviors, Embroker uncovers risk trends and sentiments within the startup sector.
  • The forced closure of SVB on March 5, 2023, had an immediate impact on how founders were shopping for insurance.
  • In early Q1, shopping trends hint at founders shopping by price tag only, as many prepared for tighter budgets.

REID COLLINS & TSAI LLP RECOVERS $175 MILLION SETTLEMENT FROM FORMER INSYS DIRECTORS IN OPIOID-RELATED LAWSUIT

Retrieved on: 
Friday, April 14, 2023
Lawsuit, Insurance, D&O, Marketing, HBO, NBC News, Front line, Trust, Insys Therapeutics, Madden, Judgement, Axa XL, Del, Federation, FDA, Therapy, News, Bankruptcy, Pharmaceutical industry, Caremark, Insys

National trial firm Reid Collins & Tsai LLP represents Insys Liquidation Trust in lawsuit against former directors of Insys Therapeutics, a public company which played a key role in the national opioid crisis.

Key Points: 
  • National trial firm Reid Collins & Tsai LLP represents Insys Liquidation Trust in lawsuit against former directors of Insys Therapeutics, a public company which played a key role in the national opioid crisis.
  • Settlement terms include $175 million judgment against the former directors, partial payment from their personal assets, and assignment of their claims to recover the balance from insurance companies.
  • AUSTIN, Texas, April 14, 2023 /PRNewswire/ -- Today, national trial firm Reid Collins & Tsai LLP ("Reid Collins") representing the Insys Liquidation Trust (the "Trust") announced a $175 million settlement agreement with certain former directors of Insys Therapeutics, Inc. ("Insys"), partially resolving civil litigation arising from its bankruptcy case.
  • Insys, a former public company, marketed and sold a highly addictive and inherently dangerous fentanyl spray to millions of people.

Belite Bio Reports Full-Year 2022 Operational Highlights and Financial Results

Retrieved on: 
Saturday, April 1, 2023
Retina, ARVO, Cash, General Services Administration, D&O, Stargardt disease, ODD, Eye, RBP4, Geographic atrophy, Vitamin A, Dry, Research, Paratriathlon, Administration, Patient, SAN, Blood, Annual general meeting, RPD, Adolescence, DRAGON, United Kingdom, FDA, Regulation of food and dietary supplements by the U.S. Food and Drug Administration, Food, Safety, D, Pharmaceutical industry, Nursing, Citrus, Cryptocurrency, PHOENIX, Stargardt, Ophthalmology

Stargardt disease (STGD1): Accumulation of cytotoxic bisretinoids has been implicated in the onset and progression of STGD1.

Key Points: 
  • Stargardt disease (STGD1): Accumulation of cytotoxic bisretinoids has been implicated in the onset and progression of STGD1.
  • Belite Bio (NASDAQ: BLTE) became listed on Nasdaq and raised net proceeds of approximately $38.0 million including the overallotment.
  • Full Year 2022 Financial Results:
    Cash and Cash Equivalents: As of December 31, 2022, the Company had $42.1 million in cash.
  • Belite Bio will host a webcast to discuss the Company’s financial results and provide a business update.

Tivic Health Reports Fiscal Year 2022 Financial Results

Retrieved on: 
Friday, March 31, 2023
Biotechnology, Health Technology, Health, Medical Devices, Advertising, Migraine, D&O, Comparison, Marketing, Telephone, Research, Insignia Systems, Inc., Acquisition, Webcast, FDA, Economics, Cryptocurrency, Video game, Pharmaceutical industry

Tivic Health® Systems, Inc. (“Tivic Health”, Nasdaq: TIVC), a commercial-phase health technology company that develops and commercializes bioelectronic medicine, today announced its financial results for the year ending December 31, 2022.

Key Points: 
  • Tivic Health® Systems, Inc. (“Tivic Health”, Nasdaq: TIVC), a commercial-phase health technology company that develops and commercializes bioelectronic medicine, today announced its financial results for the year ending December 31, 2022.
  • Jennifer Ernst, CEO of Tivic Health, commented, “We executed our 2022 strategy of increasing our direct-to-consumer sales, reducing the overall manufacturing costs of ClearUP, and seeding our product pipeline.
  • The decrease in unit sales and the increase in average selling price were due to the termination of less profitable reseller channels in 2022.
  • As of December 31, 2022, we had cash and cash equivalents of $3.5 million, with no debt on the balance sheet.

Femasys Inc. Announces Financial Results for the Year Ended December 31, 2022 and Provides Corporate Update

Retrieved on: 
Thursday, March 30, 2023
Colposcopy, Supreme, Surgeon, Bleeding, D&O, Marketing, C More Entertainment, Woman, Infertility, Research, Stage 2, Pain, Research and development, Development, Roe v. Wade, PMA, Standard of care, Administration, Supreme court, Gynaecology, CFO, RAC, IDE, FDA, AAGL, Financial management, Regulation of tobacco by the U.S. Food and Drug Administration, Food, Safety, D, Birth control, Cryptocurrency, Management, Pharmaceutical industry, Medical imaging

ATLANTA, March 30, 2023 (GLOBE NEWSWIRE) -- Femasys Inc. (NASDAQ: FEMY), a biomedical company aiming to meet women's needs by developing a suite of products and product candidates that include minimally invasive, in-office technologies for reproductive health, today announced financial results for the year ended December 31, 2022 and provided a corporate update.

Key Points: 
  • Mr. Elefant brings 25 years of financial management experience at both public and private biopharmaceutical companies.
  • Mr. Elefant has a proven record as a senior level global financial expert with financial reporting, fundraising, and mergers and acquisitions expertise.
  • Sales and marketing expenses were $558,852 for the year ended December 31, 2022, compared to $208,735 for the year ended December 31, 2021.
  • Cost of sales increased to $441,938 for the year ended December 31, 2022, compared to $370,384 for the year ended December 31, 2021.