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News 26 Oct. 2011
Frankfurt, October 26, 2011 - Curtis, Mallet-Prevost, Colt & Mosle LLP has advised Germany-based VWDA Versorgungswerk der Architektenkammer Baden-Württemberg, the Baden-Württemberg architects' pension fund, in connection with the renegotiation and supplementing of its entire insurance cover.
The package now consists of, primarily, a newly concluded innovative Directors & Officers (D&O) insurance policy and fidelity (suretyship) insurance complemented by criminal defense, first party (Eigenschaden) and general business liability (Betriebshaftpflicht) insurance.
The matter involved due diligence on VWDA's existing insurance policies and identifying corresponding risks and liability loopholes; conducting an extensive analysis regarding required or appropriate insurance cover; reviewing and comparing policies and offers solicited from various insurers while developing a tailor-made insurance concept meeting the client's specific needs as a highly regulated German pension fund and public law entity; and negotiating the terms and conditions of a multi-layered insurance policy concept with German insurance giant Allianz.
With its re-arranged insurance cover, VWDA is likely to lead the way for other Germany-based public law pension funds.
The Curtis team representing VWDA in this matter comprised Frankfurt office partners Marc V. Kramer and Dr. Markus Söhnchen and associate Patrick Eicher.
Curtis, Mallet-Prevost, Colt & Mosle LLP is a leading international law firm providing a broad range of services to clients around the world. Curtis has 15 offices in the United States, Europe, Latin America, the Middle East and Central Asia. The firm's international orientation has been a hallmark of its practice for nearly two centuries. For more information about Curtis, please visit www.curtis.com or follow Curtis on Twitter (twitter.com/curtislawfirm) and Facebook (facebook.com/Curtis.Careers).
Marc V. Kramer