What Nobody Tells You About Aig D&o Panel Counsel List

AIG D&O Panel Counsel List: 48–72-Hour Playbook for CEOs

Your GC pinged you at 9:12 p.m.: “We just got a demand letter.” This is a pragmatic playbook to move from demand to approved counsel in 48–72 hours. The goals are speed, written confirmation, and preserving choice of counsel without blowing the budget or alarming the board.

Quick summary: notify AIG through your broker immediately, ask for panel confirmation and rate caps, submit your preferred lawyer for approval with CV and rates, and secure written authorization within 48–72 hours. Pre‑approve counsel at renewal so you lock choice before claims.

Trigger the carrier workflow to obtain the panel list

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AIG doesn’t publish a single universal D&O panel counsel list. They maintain dynamic rosters by jurisdiction and matter type. Your objective is to trigger the carrier workflow that produces the applicable roster and written rate caps. Asking for names is tactical — not the finish line.

Practical first moves

• Call your broker’s claims team now to open the claim and route it to AIG’s D&O claims unit. That creates a recorded path for escalation and handler assignment.
• At the same time, submit your preferred counsel’s CV, rate sheet, and conflict statement for approval. Running these steps in parallel often shortens approval time.
• Push for written confirmation of names, caps, and a greenlight window within 48–72 hours. Written authorization avoids later disputes over scope and billing.

Best practice: build a Day Zero packet now. Include policy declarations, broker contacts, a one‑page case summary template, three pre‑vetted counsel bios, and a rate proposal template. Preparing this packet typically saves 24 hours on notice. Some startups rely on tools like ImBoard.ai to store Day Zero packets, board contacts, and prior counsel approvals so the GC can pull a complete packet in minutes. See resources such as the board meeting templates and startup governance guide for standardization: board meeting templates, startup governance guide.

Pitfalls to avoid

• Don’t hire counsel “to get started” before insurer approval. Reimbursement may be denied and reversing it is costly.
• Don’t send narratives of fault or strategy with your notice; give neutral factual summaries only to avoid expanding discovery.
• Don’t negotiate rates before seeing carrier caps; anchor initial budget talks to the carrier’s published caps or stated limits.

AIG’s panel reality: how do you get confirmation fast?

AIG maintains approved D&O panel counsel lists by state and specialty — securities, fiduciary, founder/investor disputes, and so on. You only receive the applicable subset after the claim notice triggers the assignment workflow. Ask for three things in one request: coverage acknowledgment, panel firms for your venue, and rate caps/outside counsel guidelines.

Ask your broker to escalate: request names by EOD and counsel approval within 48–72 hours. If you prefer non‑panel counsel, submit the bio and rates immediately and ask for an exception or a co‑counsel arrangement with a panel lead.

Decision rights to keep the board aligned (RAPID)

• Recommend: The GC proposes counsel options (panel + non‑panel) with rates and a 90‑day plan.
• Agree: AIG confirms rates and counsel; the Board Chair or Litigation Committee signs off on optics.
• Perform: The broker opens the claim, counsel executes the defense, and the CFO manages the budget.
• Input: The CEO advises on reputational risk and the CFO advises on retention/cash.
• Decide: The Litigation Committee or the GC makes decisions per delegated authority.

Who to contact and what to expect

Lean on your broker first — they have direct carrier contacts and service lines. The AIG claims examiner assigns the matter, issues outside counsel guidelines (OCG), and confirms rate caps. Prospective counsel should review AIG’s guidelines on staffing, billing, and travel before performing billable work.

Common timeline: well‑run carriers often assign an initial claims contact within 24 hours. Real example: a Series B fintech got a demand at 7:55 a.m.; the broker noticed AIG by 8:20 a.m.; the handler was assigned by 2:10 p.m.; panel list and caps arrived by 4:00 p.m.; and counsel was approved the next day at noon. That happened because a pre‑built counsel packet existed.

Email scripts: ask for the AIG D&O panel counsel list and pre‑approval

Use this exact language to avoid back‑and‑forth and missing attachments.

Subject: AIG D&O Claim Notice + Request for Panel List and Counsel Approval

Hi [Broker First Name] / AIG Claims,

We’re providing notice of a potential D&O claim (attached letter) for [Company], Policy #[number], policy period [dates]. Venue likely: [state/federal].

Please provide:
1) AIG’s D&O panel firms for [venue/practice area],
2) Applicable rate caps and outside counsel guidelines,
3) Confirmation whether AIG will approve our preferred counsel (bio and rates attached).

Our preferred counsel: [Name, Firm], [years] experience in [allegation type]. Proposed rates: [$]. No known conflicts.

We’re aiming to confirm counsel within 48–72 hours. Please advise next steps and handler assignment.

Thanks,
[Your Name/Title]

Seed‑stage example add‑on: “We’re a seed‑stage startup; budget discipline matters. If non‑panel approval isn’t available, we’re open to a panel lead + co‑counsel structure at panel rates.”

Attach: policy declarations, demand letter, neutral fact summary, counsel CV(s), rate sheet, conflicts statement.

Timelines and SLAs: what to demand (and escalate)

Well‑run carriers frequently confirm panel names within one business day and approve counsel within two business days. Demand explicit SLAs in writing: “names by EOD, approval within 48–72 hours.” If proposed rates exceed carrier caps, request a documented exception or a blended cap. Escalate timing failures via your broker’s claims leader.

Mini‑checklist

• Claim notice sent with attachments.
• Ask for panel list, guidelines, and rate caps in the same email.
• Submit preferred counsel CVs, relevant cases, rates, and conflicts.
• Get written approval before material work begins.

The 48–72‑hour stopwatch: from demand letter to approved counsel

Three parallel workstreams must run: notice to AIG via broker, counsel shortlisting (panel + non‑panel), and internal readiness such as litigation hold and communications. Lock counsel, rate caps, and scope within 48–72 hours to protect budget and optics. Keep the board chair informed with brief cost ranges and milestones.

Use ICE to choose quickly

• Impact: Score expected reduction in liability and board risk.
• Confidence: Score venue‑specific track record of the counsel.
• Ease: Score speed of onboarding at or near carrier caps.
  Multiply the three scores and rank options; decide within 24 hours.

Day Zero (hours 0–12): triage, notice, and what not to share

Triage using facts only and send notice through your broker immediately. Share the demand letter and a neutral summary; avoid commentary on fault, strategy, or settlement appetite — those statements are discoverable. Circulate a litigation hold to preserve documents.

Litigation hold template:

Subject: Litigation Hold – [Matter Name]

Effective immediately, preserve all documents, emails, chats, and files related to [matter scope]. Do not delete or alter any communications or records. This hold applies to company devices, personal devices used for work, and cloud drives.

Questions? Contact [GC/Outside Counsel]. Acknowledge receipt by EOD.

PAA: Do I have to use panel counsel? Many policies require use of panel counsel unless a Choice of Counsel endorsement exists or an exception is granted—confirm your policy language and seek written exception if you prefer non‑panel counsel.

Day One: shortlist, submit CVs and rates, align on scope

As names arrive, assemble a shortlist of two panel firms and one preferred non‑panel firm. Send counsel bios and case lists to AIG with a clear scope of work (for example: defense only; exclude PR; separate employment counsel). Request written rate caps and staffing expectations, and push for partner/associate blended rates.

Example: For a Founder vs Investor dispute in Delaware Chancery, submit your Delaware litigator (non‑panel) plus a panel co‑counsel option. Insurance‑defense partner caps often approximate $275/hour in many markets, versus the Am Law 100 partner average of roughly $1,100/hour (industry surveys circa 2023–2024; cites vary — see QA). Adjust for jurisdictional and firm differences.

Real scenario: a seed AI startup in New York had a boutique non‑panel litigator approved as co‑counsel under a panel lead within 48 hours, delivering specialist value without a budget shock.

Day Two: confirm approval, agree rate caps, open matter, NTP

Obtain AIG’s written approval and explicit rate caps. Open the matter file, send an engagement letter aligned with AIG’s outside counsel guidelines, and issue a notice‑to‑proceed (NTP). Confirm billing portal setup, invoice format, and provide a 30‑day budget and initial case assessment to the board.

Documents AIG often requests:

• Policy number and declarations.
• Demand/complaint and any tolling agreements.
• Board and stockholder communications relevant to the claim.
• Counsel CVs, rates, and conflicts.
• Initial budget and staffing plan.

Target SLAs: approval within 48–72 hours; budget within 5 business days. If SLAs are missed, escalate through the broker immediately.

Panel vs non‑panel: which path protects the burn and the board?

CEOs care about two variables: time to capable counsel and total spend. Panel counsel typically delivers speed and rate certainty. Non‑panel counsel typically delivers venue expertise and tailored advocacy. Co‑counsel is a middle path: a panel lead for administration plus a specialist for substantive work.

Decision tree highlights

• Stay panel: when allegations are routine and speed matters.
• Push non‑panel: when venue specialization and representative wins matter more than immediate rate certainty.
• Run co‑counsel: when AIG won’t fully approve non‑panel counsel but will allow a specialist under a panel lead.

Will AIG approve my lawyer?

AIG often approves non‑panel counsel if rates align with carrier caps and experience fits the claim profile. If full approval is denied, ask for co‑counsel and strict staffing limits to control costs.

Budget scenarios CEOs care about

Assume a panel partner cap around $275/hour for many carriers as a planning baseline; actual caps vary by carrier and jurisdiction. On a three‑month defense sprint, a typical panel model might show 80 partner hours and 200 associate hours under capped rates. Non‑panel exceptions can charge higher rates but may reduce total hours because of expertise. Co‑counsel usually produces a 10–15% overlap and a blend of panel caps and specialist fees.

Retentions matter because the company pays up to the retention before insurance coverage applies. Cap discovery staffing early, insist on associate‑heavy document review, and require pre‑approval for partner travel. Use phased budgets and a 10% variance trigger to force reforecasting.

Operational metrics: what to track and when to escalate

Track three KPIs closely: time from notice to handler assignment, time to counsel approval, and time to first invoice approval. Escalate if any KPI exceeds your written SLA, starting with the broker’s claims leader and then underwriting supervision. Reconfirm rate caps and approval preferences quarterly for long matters.

(Stat: carrier approval rates for non‑panel counsel vary by carrier and claim type; request carrier‑specific metrics during renewal.)

Win it at renewal: lock choice of counsel before a claim

Pre‑approve counsel at renewal to remove Day Zero friction. Request a Choice of Counsel or Pre‑Approved Counsel endorsement that names firms and sets caps. Provide CVs, case histories, and rate proposals at renewal to increase the chance of endorsement.

Real scenario: a Series C health‑tech company added a pre‑approved Delaware litigator and a West Coast securities firm at renewal; six months later counsel engaged same day and the board remained focused on operations.

Carrier evidence packet to prepare:

• Counsel CVs (two pages) and the top five relevant cases.
• Rate proposals with blended options.
• Conflicts statement and venue coverage list.

Broker renewal cover email:

Subject: Renewal – Request for Pre‑Approved/Choice of Counsel Endorsement

Hi [Underwriter/Broker],

As part of renewal for [Company], we request pre‑approval of the following counsel (bios and rates attached) for D&O matters in [venues]. We seek confirmation of rate caps and scope, and inclusion via endorsement.

Thanks,
[Your Name]

Ask for endorsements:

• Choice of Counsel naming specific firms/venues.
• Pre‑Approved Counsel allowing non‑panel at panel caps.
• Clarified rate caps by role and travel.

Tradeoff: endorsements may carry a small premium but are often worth it for companies operating in founder‑heavy or high‑litigation markets.

Complex realities: towers, jurisdictions, and conflicts

In multi‑carrier towers, the primary carrier often sets panel rules and selection processes. If AIG is an excess carrier, get a no‑objection from the primary carrier to avoid reimbursement or coordination issues. Map likely venues now and identify two panel options plus one backup per venue.

Conflicts come up frequently when founders, the company, and investors have different interests. Anticipate separate counsel requests and propose co‑counsel splits early to prevent duplication and payment disputes. Use a single discovery vendor to avoid overlap and duplicate vendor fees.

Example co‑counsel split: designate the panel lead for management and reporting at 60% of hours, and the founder’s specialist for hearings and briefs at 40% of hours.

Quick templates and checklists for CEOs

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• Day Zero packet: policy declarations, broker contact, demand letter, neutral summary, three counsel CVs, rate sheet, and conflicts statement.
• Mini‑checklist for claim notice: send to broker, request panel list and caps, attach counsel packet.
• Board resolution snippet for an interim litigation committee:

Resolved: The Board forms an Interim Litigation Committee composed of [names] authorized to (i) select and supervise defense counsel subject to insurer approval, (ii) approve litigation budgets, and (iii) report to the Board quarterly or as needed.

Need a tidy director brief? Pull the checklist and templates into your board pack alongside governance materials such as board meeting templates and a startup governance guide. Many teams centralize those materials in board management tools — some startups use ImBoard.ai to keep board packs, committee decisions, and litigation committee resolutions centralized and auditable.

Frequently Asked Questions

Q: Do I have to use AIG’s panel counsel for my D&O claim?
A: Many AIG policies require panel counsel unless a Choice of Counsel endorsement exists or an exception is granted. Confirm your policy language and seek written exception if you want non‑panel counsel.

Q: How quickly will AIG provide a panel list after notice?
A: Well‑run carriers often provide panel names within one business day and counsel approval within 48–72 hours; however, timing varies by jurisdiction and claim complexity. Insist on written SLAs and escalate via your broker if missed.

Q: What should be in the Day Zero packet to speed approvals?
A: Policy declarations, broker contact info, the demand letter, a neutral fact summary, three counsel CVs, rate sheets, and a conflicts statement — packaged to enable fast review and approval.

Q: Can I hire my trusted lawyer before AIG approves and expect coverage?
A: Hiring counsel before insurer approval risks non‑reimbursement and disputes. Always seek written approval or an NTP from the carrier before material work begins.

Q: What is a practical SLA to demand for counsel approval?
A: Demand “names by EOD and approval within 48–72 hours” and document that SLA in writing to create an escalation trail if timing slips.

Q: How do co‑counsel arrangements typically split work and costs?
A: Co‑counsel often assigns the panel lead 50–60% of management/reporting duties and the specialist 40–50% of substantive tasks, with budgets and staffing pre‑approved to avoid overlap.

Q: What billing and staffing rules should I insist on to control burn?
A: Insist on associate‑heavy discovery staffing, blended partner/associate caps, pre‑approval for partner travel, LEDES billing, and a 10% variance trigger to force reforecasting and escalation.

Q: How can I lock preferred counsel at renewal?
A: Request a Choice of Counsel or Pre‑Approved Counsel endorsement at renewal, submit CVs and rate proposals in advance, and negotiate explicit caps to de‑risk Day Zero.

Conclusion — run this AIG D&O panel counsel list playbook tomorrow

Stop hunting a mythical AIG D&O panel counsel list; trigger the carrier workflow instead. Notice the claim immediately through your broker, request the panel roster and rate caps, submit your preferred counsel for approval, and secure written authorization in 48–72 hours. Use the decision tree to balance panel speed against specialist value, protect the budget with caps and staffing rules, and pre‑approve counsel at renewal to de‑risk Day Zero.

Do this and t

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he board stays focused on growth — not fires. We’ve all been there; run this playbook tomorrow and buy the team some peace of mind.

Glossary

Fiduciary Duty: The legal obligation of board members to act in the best interests of the company and its shareholders, placing those interests above personal gain.

Choice of Counsel Endorsement: A policy endorsement that expressly permits the insured to select named counsel or categories of counsel, subject to agreed rates and scope.

Outside Counsel Guidelines (OCG): Written rules provided by the insurer that set expectations for staffing, billing formats, rate caps, travel policy, and reporting for defense counsel.

Retention: The insured’s share of loss that must be paid before the insurance policy responds; retentions affect cash flow and defense strategy.

Co‑counsel: A staffing arrangement where a panel lead manages the defense while a specialist non‑panel lawyer handles specific substantive tasks, often under agreed caps.

Panel Counsel: Counsel pre‑approved by the carrier for a given jurisdiction or practice area and typically subject to rate caps and staffing rules.

Notice of Claim: The formal communication to the broker or insurer that a potential claim has arisen and that triggers the insurer’s claim handling workflow.

Rate Cap: The maximum hourly rate or blended rate the insurer will approve for a given role or jurisdiction, used to control defense spend.