68. Transforming D&O Insurance: Innovations in Directors & Officers Coverage
Release Date: 05/05/2024
93. Multi-generational family businesses with David Karofsky
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome David Karofsky, a principal consultant with The Family Business Consulting Group and co-author of So, you're in the Family Business: A Guide to Sustainability. David brings both professional expertise and personal experience to the discussion, having grown up in a multi-generational family business and later building a family business consulting practice alongside his father. Most recently, his son Adam has also joined David in his consulting practice. He shares how family businesses operate at the unique intersection...
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92. AI vs. Humans in the Boardroom: Whom Do You Trust, with Babs Ryan.
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Babs Ryan, an innovation executive, board director, and AI strategist with experience spanning global technology, marketing, consumer products, and financial services. Ryan discusses the evolving role of artificial intelligence in governance, the future of AI on boards of directors, and realistic scenarios for AI adoption, in a discussion about the possible ways AI can be integrated into boardrooms. The episode also explores broader governance issues, including board refreshment and oversight responsibilities, and how AI...
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91. Reinforcing Board Cybersecurity with Gary Evee
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Gary Evee, cybersecurity leader and founder and CEO of Aprivé. His company is pioneering a concierge approach to cybersecurity protection, providing services that protect high-value individuals and families from the digital threat landscape. Drawing on more than 25 years of experience across IBM, cybersecurity leadership, and board service, Gary explains how breaches increasingly originate through individuals rather than systems. He highlights how personal devices, home networks, and online data exposure create...
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90. Building an effective board for post-restructured companies with Jon Weber
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Jon Weber, founder of the Jon F. Weber advisory firm and an experienced board leader in operationally intensive, post-restructured companies. Jon has served on over 50 boards. Drawing on more than 20 years of experience at institutional investors, including Icahn Enterprises, Goldman Sachs, and Elliott Investment Management, Jon shares what distinguishes a board that genuinely drives change. The conversation explores how boards are rebuilt following restructurings, why these roles demand significantly more engagement...
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89. Building early stage boards with Firas Raouf
On Boards Podcast
In this episode, Joe and Raza speak with Firas Raouf, co-founder and general partner at Companyon Ventures, a Boston-based VC firm specializing in early-stage B2B software and AI startups. Firas shares insights from 25 years as a founder, operator, and venture investor—helping companies transition from founder-led sales to scalable, operationally disciplined organizations. The conversation focuses on how early-stage founders should think about creating their first board, the mistakes to avoid, and why great board dynamics depend heavily on execution. Key takeaways Career beginnings 25...
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88. Global board leadership with Linda McGoldrick
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Dr. Linda McGoldrick, an international board director, strategy leader, and policy expert in healthcare and life sciences. With 30 years of global experience across the U.S., U.K., and European boards, Linda shares what defines high-performing boards, the importance of trust and diversity of thought, and how geopolitical and technological shifts are transforming governance today. Key takeaways Traits of high performing boards Regardless of size or geography, effective boards are well-prepared, prioritize...
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87. The Boardroom Blind Spot with John Rose
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with John Rose, an international marketing executive, entrepreneur, and board advisor who has led businesses across the U.S., Europe, Latin America, and the Middle East. John discusses his global career—from founding the first ad agency in Russia to relocating his company to Dubai and his recent research project, “The Boardroom Blindspot," a global survey exploring why marketing expertise is underrepresented on boards. He also shares insights from his work with the Virtual Advisory Board and Board Brothers,...
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86. The imperfect path to better boards with Jim Brown
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Jim Brown, co-founder of OrgHealth and author of the global bestseller “The Imperfect Board Member.” With 30 years of experience advising boards and CEOs, Jim shares how embracing imperfection leads to stronger leadership, healthier organizations, and better board performance. He dives into the evolution of governance over the last two decades and the cultural challenges boards face today. Jim also previews his forthcoming book arriving in 2026, “The Imperfect CEO,” set 20 years after his first...
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85. Pioneering augmented directorship with Jamie Green
On Boards Podcast
In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Jamie Green, co-founder and CEO of Tutaki, an AI-powered workbench designed to make board directors significantly more effective. Drawing from his background in consulting at McKinsey, Green created a technological solution to solve a widespread challenge in board rooms across the U.S. and abroad: information overload and limited time to prepare. Tutaki is an AI system that acts as an expert co-pilot to help directors surface context, identify risk and deliver impact. Jamie also shares how AI is reshaping...
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84. Optimal Diversity in the Boardroom with Dr. Keith Dorsey
On Boards Podcast
In this episode of On Boards, Dr. Keith Dorsey an executive coach, author, active board member, and expert in leadership development and corporate governance. joins hosts Joe Ayoub and Raza Shaikh His book, The Boardroom Journey: Practical Guidance for Women to Secure a Seat at the Table, provides insights and strategies for women aspiring to become board members. Keith holds a doctorate in Organizational Change and Leadership from the University of Southern California and serves on multiple boards including Vimly Benefit Solutions, Pacific Crest Trail Association and Pepperdine...
info_outlineIn this episode Michael Talmanson and Dereick Wood discuss the critical importance of D&O coverage for board members. They set the context with a backdrop of Newfront's recent capital infusion led by Goldman Sachs emphasizing the company's innovative approach to combining technology with insurance expertise.
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Big Ideas/Thoughts/Quotes
1. Background & industry evolution
· Michael shares his transition from legal practice to insurance, driven by a passion for technology and client service. He discusses how Newfront's technology platform and AI tools modernize the insurance experience, enhancing client's ability to manage and predict risks.
· Dereick discusses his extensive experience in handling complex D&O claims, underlining the evolution of claims and the increasing magnitude of derivative settlements.
“The differentiator is the information you can provide boards to make informed decisions about their actual losses.”
2. Newfront’s Innovation & Impact on the Insurance Market
· Newfront's strategy of blending high-tech solutions with traditional brokerage services to address the needs of a rapidly changing market. Michael highlights the critical role of experts like Dereick in navigating complex claims, underscoring the blend of technology and human expertise.
· Discussion on Newfront’s "breakthrough" technology which simplifies processes like contract reviews and risk assessments through AI, setting a new standard in the insurance industry.
“Since 2020, seven of the top ten largest derivative settlements have occurred, and the people on my team have been involved in all those settlements”
3. D&O Insights
· Comprehensive breakdown of D&O insurance coverage (Side A, B, and C) and its importance from a buyer's perspective. Michael and Dereick discuss practical scenarios and the vital protection D&O insurance provides to board members against potential liabilities and lawsuits
· Dereick provides insights into recent high-profile cases and settlements, demonstrating the critical nature of D&O coverage in protecting board members during legal challenges
· Strategic recommendations for board members to ensure adequate D&O coverage, emphasizing the importance of understanding policy details and the implications of board decisions on insurance claims
· Michael and Dereick providing practical advice to board members on avoiding litigation and ensuring robust D&O coverage. They stress the importance of diverse opinions and backgrounds on boards to enhance decision-making and risk management
“No matter what happens from a technology perspective, insurance will always require experts. People like Dereick on the claims side, D&O experts, cyber experts. People will never be replaced by technology."