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Sixth Circuit Holds Coverage Unavailable for Perpetrator of Sexual Misconduct

In its recent decision in Clifford v. Church Mutual Ins. Co., 2016 Fed. Appx. 0373N (6th Cir. July 5, 2016), the United States Court of Appeals for the Sixth Circuit, applying Ohio law, had occasion to consider the coverage...more

D&O Insurance—Issues to Consider Before a Claim Arises

In Depth - Directors and officers (D&O) liability insurance remains a vital issue for companies and their directors and officers as potential sources of liability continue to evolve. More securities lawsuits were filed...more

An Injured Third Party’s Knowingly False Deposition Testimony Establishes the Materialty Component for Insurance Fraud

On May 13, 2006, Edward Feierstein was driving home from his Philadelphia fitness club when his car was rear-ended. Two days later, Feierstein filed a claim with the tortfeasor’s liability insurer seeking reimbursement for...more

When Attorneys General Attack: Cybersecurity Investigations and Related Insurance Coverage Issues

Are criminal cyberattacks increasing in sophistication and frequency? Yes. Is every company, in every industry, that collects or stores sensitive customer, employee, or business data vulnerable to cyberattacks?...more

Two Federal Courts Uphold Criminal Convictions for Insurance Brokers

Two federal appellate decisions highlight the potential criminal liability for rogue agents. First, in United States v. Binday, the Second Circuit Court of Appeals upheld mail and wire fraud convictions of three individuals...more

Happy Birthday William Shakespeare!

April 23rd will be the anniversary of William Shakespeare’s birth in 1564. He died on the same date in 1616, making this the 400th anniversary of his death. Actually, the exact date of his birth is unknown, but it is...more

[Webinar] Protecting Against Wire Transfer Fraud: Limiting Your Company's Exposure - Feb. 25th, 1:00pm CST

Beyond the headlines, the latest cyberattacks target corporate bank accounts, rather than consumer credit cards. The FBI has been warning that wire transfer fraud is booming. The billion-dollar problem targets businesses --...more

Kansas: Safe harbor for insurer faced with settlement demand to only one insured

What should an insurance company do when liability of the insured is clear, the damages clearly exceed the limits, and the claimant sends a settlement demand that would exhaust policy limits while releasing only one out of...more

Court Of Chancery Explains Apportionment In Advancement Case

Not infrequently, a former director may seek to have his attorney fees advanced in two pending matters, only one of which is covered by a corporation’s advancement obligations. An example would be an SEC action coupled with a...more

New York Court Narrowly Construes “Final Judgment” Language In Fraud Exclusion: Does Your D&O Policy Protect You Through An...

The New York Supreme Court, Appellate Division, First Department’s June 23 decision in Dupree v. Scottsdale Ins. Co., Case No. 653412-11, highlights the importance of negotiating favorable language in a fraud exclusion, a...more

Illinois Court Holds No Duty to Defend Malicious Prosecution Suit

In Indian Harbor Ins. Co. v. City of Waukegan, 2015 IL App (2d) 140293 (Ill. App. Ct. 2d Dist. 2015) the Appellate Court of Illinois, Second District, had occasion to consider when coverage for a malicious prosecution claim...more

Insurance – Duty to Defend

Gonzalez v. Fire Insurance Exchange, et al. - Court of Appeal, Sixth Appellate District (March 4, 2015) - Typically, claims of sexual assault or claims related to sexual assault are not covered under a standard...more

IRS Scrutinizes Captive Insurance

Every year the IRS issues a list of tax scams pertinent to that filing season. This list is commonly referred to as the (“Dirty Dozen”). The Dirty Dozen warns taxpayers of illegal tax avoidance schemes that can lead to...more

Piracy, Kidnap & Ransom: UK Bans Ransom Payments by Insurers

On 26 November 2014 the British Home Secretary introduced the Counter-Terrorism and Security Bill (the Bill) to Parliament, part of which deals specifically with prohibiting the payment of insurance claims in respect of...more

Not All Vice Presidents Are Officers and Entitled to Corporate Indemnification

Aleynikov v. Goldman Sachs Grp., Inc. - Addressing the meaning of the term “officer” in a company’s bylaws, the U.S. Court of Appeals for the Third Circuit vacated a district court’s summary judgment that a computer...more

Third Circuit Holds That Insured Must Reimburse Insurer For Litigation Costs Paid In Excess Of Sub-limit

In CAMICO Mutual Insurance Co. v. Heffler, Radetich & Saitta, L.L.P., the United States Court of Appeals for the Third Circuit recently held that a $100,000 sub-limit for claims involving employee misappropriation, misuse,...more

Florida Court Holds Warrant Does Not Trigger D&O Policy

In its recent decision in RSUI Indemnity Co. v. Desai, 2014 U.S. Dist. LEXIS 122068 (M.D. Fla. Sept. 2, 2014), the United States District Court for the Middle District of Florida had occasion to consider whether a criminal...more

Insurance Antitrust Legal News: Volume 3, Number 5

European Antitrust "Block Exemption" for Insurance Under Review: In the United States, the McCarran Ferguson Act (15 USC 1011-1015), enacted by Congress in 1945, provides the insurance industry with a limited exemption...more

The Meth Business is Dangerous; (En)trust No One

For a landlord, it’s a bad day when your tenant gets busted for operating a meth lab, and the local authorities condemn your house because it’s contaminated with the byproducts of his business. It’s even worse when you learn...more

Land of Confusion: Insurance Coverage for Pre-Suit FCPA Investigation Costs under D&O liability Policies

Bloomberg recently reported that Walmart spent $439 Million in the past two years related to a Foreign Corrupt Practices Act (“FCPA”) investigation . Moreover, Walmart predicts that it will spend an additional $200 Million to...more

Why Texas Insurers Need To Report Fraudulent Hail Claims

In Amarillo, Texas, with clipboard, camera and marking chalk in hand, a seasoned insurance company adjuster climbs his ladder onto the roof of an apartment building. He’s looking for hail damage following a recent hailstorm...more

Insurance Antitrust Legal News - July 2014 • Volume 3, Number 4

In This Issue: - COURT DENIES BLUES’ MOTION TO DISMISS IN RE BLUE CROSS BLUE SHIELD ANTITRUST LITIGATION (MDL 2406): On June 18, United States District Court Judge David Proctor (Northern District of Alabama)...more

Case Closed: No More Neasham

As reported in previous Expect Focus issues, People v. Neasham involved an insurance agent’s criminal conviction for felony theft in connection with the sale of an annuity to an elderly woman whom prosecutors claimed had...more

Considerations For Insurers In The Aftermath Of The MetLife Consent Decree

MetLife Consent Decree - On March 26, 2014, the New York Department of Financial Services (the "DFS") entered into a consent decree ("Consent Decree") with MetLife, Inc. and its subsidiaries, American Life Insurance...more

Regulatory Risk Update - Defendant's Costs in Criminal Proceedings

The ability of companies to recover costs of defending criminal proceedings has been severely restricted by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (the "Act"). CHANGES TO THE LAW - The...more

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