Sam Bankman-Fried’s criminal trial started this week; and on the same day, he sued one of his director & officer insurers. And a lot of people are asking, why? Is the timing a coincidence or on purpose? Shouldn’t he be...more
10/6/2023
/ Bad Faith ,
Commercial General Liability Policies ,
Commercial Insurance Policies ,
Criminal Prosecution ,
D&O Insurance ,
Defense Costs ,
Financial Fraud ,
Fraud ,
Insurance Industry ,
Legal Fees ,
Policy Exclusions ,
Self-Dealing
This morning, the FTX crypto exchange (and more than 130 affiliates) filed for bankruptcy in Delaware. FTX was recently valued at $32 billion, and now it appears to be worth $0. The bankruptcy petition listed at least $10...more
Companies in the United States continue to file business interruption lawsuits against their insurers for claims arising from state and local government shutdown orders in response to the COVID-19 pandemic. At least 1,250...more
10/27/2020
/ Business Interruption ,
Civil Authority Coverage ,
Commercial Insurance Policies ,
Commercial Property Owners ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Infectious Diseases ,
Insurance Industry ,
Insurance Litigation ,
Loss Coverage ,
Policy Exclusions ,
Property Insurance
The North Carolina Court of Appeals recently released an unpublished opinion further illuminating how insurers can effectively cancel worker's compensation policies. However, nothing in the case limits its application solely...more
Insurance law generally imposes on a policyholder the duty to give timely notice of claims to its insurance company. Sometimes, because of forgetfulness, ignorance, neglect, or a number of other reasons, companies fail to...more