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Third Circuit Finds Insured v. Insured Exclusion Precludes Recovery of Defense Costs

Many corporate executives may be under the impression that the defense costs they incur when sued for actions taken in their role as officers of the company would be covered by a “Management Protection” insurance policy. The...more

Insurance and Reinsurance Newsletter - Italy: July 2015

1. Solvency II - Insurance Code Amended - Legislative Decree No. 74 of 12 May 2015 was published in the Official Gazette on 15 June 2015, which has made all necessary amendments to the Insurance Code in order to...more

New Thai insurance acts facilitate foreign ownership of insurers

The Life and Non-Life Insurance Acts (No. 3) were issued earlier this month. Their provisions make it substantially easier for permission for majority or total foreign ownership of insurers to be granted, and also regulate...more

Insurance Recovery Law - September 2014 #2

D&Os Entitled to Unfettered Access to Bankrupt Company’s Policy Proceeds to Fund Defense Costs: Why it matters - In an important victory for directors and officers of a bankrupt company, a New York court...more

Is That Covered? Management Liability Insurance

If a company files for bankruptcy, allegedly as a result of mismanagement, are claims brought by the bankruptcy trustee against the former management of the company covered by insurance?...more

Weekly Law Resume - May 23, 2013: Insurers May Exercise the Attorney-Client Privilege On Behalf of Dissolved Corporate Insured

Mary Melendrez et al., v. Superior Court of the State of California, County of Los Angeles - COURT OF APPEAL, SECOND APPELLATE DISTRICT (April 30, 2013) - Petitioners and Plaintiffs Mary Melendrez, individually and...more

Second Circuit confirms excess insurance is triggered only upon actual payment of all underlying limits

This week Federal Insurance Company achieved an important victory in a long-standing insurance coverage litigation concerning the proper trigger of excess directors and officers insurance. DLA Piper represented Federal, a...more

In the Matter of Krafft-Murphy Co., Inc., C.A. No. 6049-VCP (Del. Ch. Feb. 4, 2013) (Parsons, V.C.)

In this opinion, the Court of Chancery denied a motion for judgment on the pleadings by certain asbestos claimants (the “Claimants”) seeking appointment of a receiver under 8 Del. C. § 279, holding that the dissolved...more

The effect of English schemes of arrangement in Germany

English law schemes of arrangement have become an increasingly debated topic in German law following some prominent cases in recent years. As far as Germany is concerned, the key question is whether schemes of arrangement...more

Intersections of Bankruptcy Law and Insurance Coverage Litigation

Bankruptcy and insurance law frequently intersect and sometimes conflict. This article addresses the most important of these intersections, including the ability of a debtor to satisfy insured claims by the assignment of...more

Court Denies Pennsylvania Insurance Department’s Move To Liquidate Two Long-Term Care Insurers

The Commonwealth Court of Pennsylvania has rejected the efforts of the Pennsylvania Insurance Department (PID) to liquidate two long-term care insurance (LTCI) companies domiciled in Pennsylvania. The ruling in Consedine v....more

Asset Protection Planning

Asset protection planning is a hot topic for many people. This article summarizes various asset protection planning strategies, short of filing for bankruptcy....more

DOC Finds A Reorganization Can Include A Rehabilitation

Until last year, Ambac Assurance, a Wisconsin domiciled insurer, was one of the largest monoline insurers in the world. Originally it insured low-risk, public finance bonds. However, in the 1990s it started to offer...more

Why Long-Term Care Insurance is Important to Doctors

One commonly overlooked area a doctor’s personal planning is the possibility that you or a loved one may need long-term care (LTC) as a result of age, illness, or accidents. In cases where such care is required, the...more

When Two Worlds Collide: Understanding D&O Coverage in the Bankruptcy Setting

Corporations purchase directors' and officers' liability insurance in an effort to recruit and/or retain top executives. Indeed, the fundamental purpose of D&O insurance is to protect directors and officers from personal loss...more

Scrutiny of the Bounty, JTW News

The decision to undertake a solvent runoff of an insurance line or company cannot be a routine business-as-usual decision, like moving the headquarters to Chicago or investing in new computers. A solvent runoff of an...more

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