Tender Offer Defense Expense Insurance
Definition of "Tender offer defense expense insurance"
Coverage for defense costs incurred in defending a company from an unfriendly takeover attempt. Hostile takeovers have been one of the hottest business topics in recent years. Vulnerable companies have responded in a variety of ways including changing the corporate bylaws, selling off their most attractive assets, and, in the last resort, voting themselves huge severance packages or "golden parachutes." When a company or individual makes a tender offer for the stock of its takeover target, the latter company usually hires legal experts and mounts a costly defense. This insurance is an example of a specialized coverage that grew to meet a specific need.
Popular Insurance Terms
Section of the Internal Revenue Code that provides for SIMPLIFIED EMPLOYEE PENSIONS (SEP). ...
Model state law of the NAIC that requires that the insurance company and agent provide a prospective insured with written information concerning the cost and benefits of the life insurance ...
Estate planning device used so that any life insurance policies that are owned by and paid to the trust will avoid estate tax upon the death of the insured, and, upon the death of the ...
Coverage for exposures that exhibit a possibility of financial loss. ...
Clause common to life and health insurance policies issued during wartime that exclude benefits for military service-connected perils of death, disability, illness, accident, or sickness. ...
Form of inland marine insurance under which an insured is indemnified for damage or destruction of his or her on-premises property if it is due to radioactive material stored or used within ...
Several insurance companies under common ownership and, often, common management. ...
Maximum amount of a specified type of insurance coverage, according to underwriting guidelines, that an insurance company feels it can safely underwrite on a particular exposure without ...
Percentage of life insurance or other insurance policies remaining in force; percentage of policies that have not lapsed. The higher the percentage, the greater the persistency. Since it is ...
Have a question or comment?
We're here to help.