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The Champion

April 2019 , Page 48 

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Hiding in Plain Sight: Obtaining Insurance Coverage in White Collar Criminal Investigations and Complex Civil Litigation

By Douglas K. Rosenblum and Marc S. Raspanti

An attorney is outside counsel to a midsized, closely held corporation. The attorney reports to a group of officers and directors. The client was just served at corporate headquarters with a grand jury subpoena in connection with a yet unknown fraud investigation. Although the client has been reliable and solvent for many years, the president of the company confides in counsel that the company is currently experiencing cash flow issues and cannot afford representation by counsel’s firm in this serious matter. Appropriately concerned that a new, less experienced attorney might not sufficiently protect the company’s interests, the president looks to outside counsel for a solution. Cutting counsel’s billable rate is not a viable option. Counsel thinks there might be another path: previously purchased and fully funded insurance policies. 

Insurance proceeds allow many companies and executives to retain highly qualified counsel when they otherwise would not be in a financial position to do s

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