Business Organization General Business Insurance

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Interaction fo Trustee Indemnities and Liability Insurance

When a trustee is sued for breach of trust and claims against his professional indemnity insurers, questions often arise as to the extent to which the trustee must first pursue any other rights of indemnity (for example...more

First Circuit Holds That AIG Must Defend Directors and Officers in FDIC Litigation

What you need to know: The United States First Circuit Court of Appeals recently held that an insured versus insured exclusion did not exempt AIG from advancing defense costs under a D&O policy in a suit brought...more

Illinois Court Holds Services Performed By Sub for Parent Comes Within E&O Policy

In its recent decision in Hilco Trading LLC v. Liberty Surplus Ins. Co., 2014 Ill. App. LEXIS (Ill. 1s Mar. 17, 2014), the Appellate Court of Illinois for had occasion to consider whether appraisals and evaluations prepared...more

10th Circuit Certifies Late Notice and Reporting Questions to Colorado Supreme Court

In its recent decision in Craft v. Philadelphia Indem. Ins. Co., 2014 U.S. App. LEXIS 2680 (Feb. 11, 2014), the United States Court of Appeals for the Tenth Circuit, applying Colorado law, had occasion to consider whether...more

Death of the Salaried Partner? Wide Ranging Changes to LLP Member Taxation To Come Into Force on 6 April 2014

Wide ranging changes to the way in which LLP members are taxed are due to take effect on 6 April 2014. LLPs and their members, particularly those in professional service and private equity/fund management firms, should,...more

Claims: Government Investigations, Enforcement And Triggering Insurance Coverage Under D And O Insurance

In this Presentation: - FDIC D&O Insurance and “Claim” Issues ..Definition of “Claim” in a D&O Policy ..So, what constitutes a “claim” ..“Claim” definition Denials and Cases ..Timing of a...more

Regulators’ New Focus On Director And Officer Liability Insurance; Other Considerations

The Federal Deposit Insurance Corporation (the “FDIC”) issued an advisory statement on October 10, 2013, titled “Director and Officer Liability Insurance – Policies, Exclusions, and Indemnification for Civil Money...more

How Strong Is Your D&O Safety Net?

Directors and officers policies is the most important insurance to protect directors and officers from personal liability. Corporations often broadly indemnify their directors and officers so gaps in D&O insurance will have...more

Business Litigation Reporter

We are pleased to introduce the inaugural issue of Goodwin Procter’s Business Litigation Reporter. This unique publication provides timely summaries of key cases and other developments within dedicated Business Litigation...more

Reinsurance Newsletter - December 2013: New York Federal Court Special Discovery Master Makes Privilege Determinations

Harbinger F&G, LLC v. OM Group (UK), No. 12-CV-5315 (AJP), 2013 U.S. Dist. LEXIS 132009 (S.D.N.Y. Aug. 22, 2013). A parent corporation sold to a purchaser one of its subsidiaries, a Maryland domiciled life insurance...more

First Circuit Enforces D&O Policy’s Known Circumstances Exclusion

The First Circuit Court of Appeals recently held that a “Known Circumstances Exclusion” in an insured school’s D&O policy barred coverage for an underlying action involving misrepresentations in soliciting a donation....more

Companies Increasingly Look To Captive Insurance

Companies seeking an alternative to traditional risk management approaches are increasingly turning to the captive insurance market, especially for recurring and foreseeable losses. As most commonly understood, the...more

Insurance Company that Issues Liability Policy does not need to Defend Insured Party Against a Non-Financial Claim

In San Miguel Community Association v. State Farm General Insurance Company (2013) 220 Cal.App.4th 798), a third party's failure to seek compensatory damages against an insured rendered their dispute exempt from the insured’s...more

FDIC Bars Financial Institutions from Purchasing Insurance Coverage for Civil Monetary Penalties for Directors and Officers: FDIC...

We recently notified you of the FDIC’s Financial Institution Letter 47-2013 , which urges directors and officers of financial institutions to examine their institutions’ directors and officers (D&O) insurance coverage to...more

What You Need to Know About Maintaining Your Contractor’s License in California

Earlier, I wrote a post on What You Need to Know About Obtaining a Contractor’s License in California. This post focuses on what you need to know about maintaining your contractor’s license in California. As with my earlier...more

Changes to Directors’ Duties in Queensland

Queensland has made some big changes in respect of directors’ liability. More than eighty pieces of legislation are affected. The Directors’ Liability Reform Amendment Act 2013 (Act) was assented to on 29 October 2013 after...more

Goldman Ordered to Advance Defense Fees for Former Employee Accused of Stealing Computer Codes

On October 16, 2013, the U.S. District Court for the District of New Jersey, in Aleynikov v. The Goldman Sachs Group, Inc., found that a former vice president and computer programmer was an “officer” of Goldman Sachs & Co.,...more

FDIC Warns of Reduced Insurance Coverage for Directors and Officers of Financial Institutions

On October 10, the FDIC issued Financial Institution Letter 47-2013, urging directors and officers (D&O) of financial institutions to examine their institutions’ D&O insurance coverage to ensure adequate protection for...more

First Circuit Holds Prior Knowledge Exclusion Applicable

In its recent decision in Clark School for Creative Learning, Inc. v. Philadelphia Indemnity Ins. Co., 2013 U.S. App. LEXIS 21568 (1st Cir. Oct. 23, 2013), the United States Court of Appeals for the First Circuit, applying...more

Recent Changes In SEC Enforcement Policy Require Renewed Attention To Directors’ And Officers’ Insurance Terms

In recent months, the Securities and Exchange Commission (SEC) has announced and implemented policy shifts that could compromise the availability of directors’ and officers’ (D&O) insurance coverage for entities and...more

Illinois Appellate Court Respects Characterization of Captive Insurance Company

In Wendy’s International, Inc. v. Brian Hamer, decided earlier this week, the Illinois Appellate Court found that Taxpayer had met its burden and proved that its subsidiary insurance company was a bona fide insurance company...more

Insurance Recovery Law -- Oct 02, 2013

Virginia Federal Court Rules Under D&O Policy that Search Warrant and Subpoena Trigger Defense Obligation Even Without A Formal Complaint or Demand - Why it matters: With increasing governmental investigations relating...more

The Power of Insurance Trusts to Maintain Family Business Assets and Sanity

Life insurance and irrevocable trusts are great tools to ease family business succession issues and mitigate exposure to shareholder oppression and disputes. Irrevocable life insurance trusts (ILIT), in particular, play an...more

Muddying the Waters on Policy Stacking Law: Perspectives on Insurance Recovery Newsletter – Summer 2013

In This Issue: - Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance - J.P. Morgan Decision Curtails the Phantom “Restitution Defense” to D&O Coverage - Bad-Faith Claims...more

Clarification of section 601AG of the Corporations Act 2001 (Cth) for claims made policies

On 10 September 2013, in Sciacca v Langshaw Valuations Pty Ltd [2013] NSWSC 1285, the Supreme Court of New South Wales held that, in relation to claims made policies, the threshold test of section 601AG of the Corporations...more

123 Results
|
View per page
Page: of 5

Follow Business Organization Updates on: