Directors of Fireman’s Fund, the nation’s 14th-largest...

Directors of Fireman’s Fund, the nation’s 14th-largest insurer, adopted a “shareholder rights” plan aimed at preventing hostile takeovers. Shareholders will receive dividends of one “right” for each common share, giving them one-thousandth of a share of a new series of preferred stock at an initial price of $105. They won’t be able to buy more preferred stock unless certain conditions indicating a possible takeover are met. The plan won’t prevent a takeover but may strengthen management’s hand in dealing with a suitor, the Novato, Calif., company said.