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
Loss of a key person due to death, disability, sickness, resignation, incarceration, or retirement. Because of the expertise of such an individual, there could be a loss of income, market ...
Classification of occupations according to the degree of risk inherent in that occupation. ...
Quality of being useful. Risk diminishes maximum utility in society because resources gravitate to activities, businesses, and investments that are least risky. By absorbing or protecting ...
Rate of increase in asset value. ...
Option clause in a disability income policy that the insured can exercise that would permit the insured the right to purchase additional limits of coverage regardless of the insured's ...
Deduction allowed for gifts and bequests to a spouse for federal estate and gift tax purposes. Under the Economic Recovery Tax Act of 1981 (ERTA), the deduction became unlimited. Prior to ...
Record of insurance policies sold to an individual. ...
Individual added to a life insurance policy other than the insured named in the policy. For example, an insured father can have a dependent son and daughter added to the policy as ...
Policy that provides an income for life to the primary beneficiary upon the death of the insured. The face amount of the policy becomes payable to the secondary beneficiary upon the death ...
Have a question or comment?
We're here to help.