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December 14, 2009

Executive Salaries, D&O Insurance Premiums Restructured by New German Law.

   A spokesperson for Zurich Financial AG's "global corporate division" reports that a new German law called "VorstAG" will force Directors and Officers Insurance Premiums to increase.  Carolyn Bandel, "German Salary Law Boosts Executive Insurance Cost (Correct[ed])" (Bloomberg.com, Friday, December 11, 2009).

   VorstAG is the German abbreviation for the new law.  Not only will it likely increase the cost of Directors and Officers Insurance Premiums, but "VorstAG stipulates manager pay needs to be in line with the achievements of the board and lets shareholders decide on the compensation of their management."  Id.

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Posted by on December 14, 2009 at 08:52 AM in Directors and Officers (D&O) Coverage, Fiduciary Duties |

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