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Business Organization Insurance

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:

Connecticut Court Holds No Coverage for Late Notice Under D&O Policy

In Zahoruiko v. Fed. Ins. Co., No. 3:15-cv-474 (VLB), 2017 U.S. Dist. LEXIS 28204 (D. Conn. Feb. 28, 2017), the United States District Court for the District of Connecticut had occasion to consider whether an insured’s late...more

Ninth Circuit Holds D&O Policy Bars Coverage of FDIC’s Claims

In a decision, the US Court of Appeals for the Ninth Circuit, in finding for a directors & officers (D&O) insurer, denied coverage of the Federal Deposit Insurance Corporation’s (FDIC) claims against a failed bank’s former...more

The $100 Million Question is Answered With Extrinsic Evidence, Not Contra Proferentem

by Murtha Cullina on

Last October, we reported on the issues at stake in Gold v. Rowland, the class action that claims that Connecticut state employees were members entitled to shares of stock when their insurer, Anthem, demutualized in 2001. The...more

Business Litigation Reporter - April 2017

by Goodwin on

Representations and Warranties Insurance Policies – Lessons from the Claims Process - Representations and warranties insurance policies (R&WI Policies)—designed to protect parties from loss arising from breaches of...more

Navigating Yates Memo Minefield and Broadening of Excess Side-A DIC D&O Insurance Policies

by Perkins Coie on

Former Deputy Attorney General Sally Yates issued a memorandum (the Yates Memo) in September 2015 setting forth guidance on how the U.S. Department of Justice would handle future corporate investigations and, to the extent...more

Criminal Conviction Of De Facto Officer Does Not Preclude D&O Coverage

by Allen Matkins on

After a two week trial in 2013, a jury convicted Mitchell J. Stein, a lawyer, of mail, wire, and securities fraud based on evidence that he fabricated press releases and purchase orders to inflate the stock price of his...more

Business Litigation Report - March 2017

Culture: Meeting Regulatory Expectations - Recent scandals in the corporate and financial spheres have served to highlight the importance of a strong and well-embedded institutional culture. It is difficult to pinpoint...more

Infrastructure Crisis Management: Maximizing Insurance Coverage for Business Interruption Losses Caused by the I-85 Bridge...

by King & Spalding on

Atlanta’s traffic woes are hardly newsworthy, but last week’s I-85 bridge collapse is resulting in traffic headaches that could cause local businesses and the logistics industry to suffer millions of dollars in business...more

7 Insurance Questions Every Startup Founder Should Ask Themselves

by JD Supra Perspectives on

Many startups will either forego or postpone buying insurance. But this is usually a mistake....more

Beltway Briefing: Special Tax Policy Briefing

by Cozen O'Connor on

Blake Rutherford and Howard Schweitzer of Cozen O'Connor Public Strategies analyze the future of tax reform and the implications on the business community. Blake: Today for this special briefing on tax reform, which is...more

California Appellate Court Holds D&O Insurer Must Pay Cost of Insured’s Appeal Despite Criminal Conviction

In Stein v. Axis Ins. Co., No. B265069, 2017 Cal. App. Unpub. LEXIS 1628 (Ct. App. Mar. 8, 2017), the Second District California Court of Appeal had occasion to consider whether a criminal conviction is a “final adjudication”...more

Payor/Provider Convergence: Joint Venture Health Plans

by Foley & Lardner LLP on

Health Plans and health care providers are getting into each other’s business. This payor/provider convergence has taken different forms. Health systems have ventured into the health insurance business by acquiring or...more

An Overview of Representations and Warranties Insurance

The last twelve months have seen strong levels of M&A activity in the U.S. energy tech and renewables sector. As this trend continues, we want to share a recent update on the increased use of representations and warranties...more

Myths & Misconceptions of Biotech Securities Claims: An Analysis of Motion to Dismiss Results (2005-2016)

There is a common life cycle for Directors and Officers Liability for a publicly-traded biotechnology company bringing its first drug or device to the market. In the early stages, whether pre-clinical or Phase 1, there is...more

LB&I Increases Scrutiny of Section 831(b) “Micro-captive” Insurance Companies

The Large Business and International (LB&I) Division of the Internal Revenue Service (IRS) announced its first 13 issue-based campaigns on January 31, 2017. As discussed in a prior Eversheds Sutherland Legal Alert, these...more

NYDFS Cybersecurity Regulations Compliance Guide: Applicability, Exemptions and Penalties

by White & Case LLP on

As discussed in our March 1, 2017 update,1 the New York Department of Financial Services ("NYDFS") issued final regulations that require New York banks and insurance companies, as well as other financial services companies...more

SB 10: A Threatened Setback For All Corporate Policyholders

by K&L Gates LLP on

All Texas businesses should be concerned about the potential passage of Senate Bill 10 (“SB 10”). While several lawmakers tout SB 10 as tailored legislation to curb “hailstorm lawsuit abuse,” SB 10 is much broader and...more

The UK Senior Managers Regime: One Year Later

by WilmerHale on

On March 7, 2017, it will be one year since the U.K. Financial Conduct Authority's senior managers and certification regime came into force, heralding a new era of personal accountability in the financial sector. A...more

Federal Diversity Jurisdiction: Proving Citizenship of Limited Liability Companies

Jurisdiction gives a federal court the power to hear a case. Jurisdiction matters at the outset of a lawsuit. It matters during discovery. It even matters after summary judgment. Jurisdiction matters because federal courts...more

Reps & Warranties Insurance In M&A Deals – Getting the Deal Done

by McGuireWoods LLP on

Note: This is the first in a series of posts that will discuss the use of RWI in Mergers & Acquisitions. Essential to a buyer’s and seller’s evaluation of the purchase and sale of a company is the allocation of...more

“Succeeds to the Interests of” Does Not Require Assumption of Obligations: D&O Policy’s Insured v. Insured Exclusion Applies to...

by Cozen O'Connor on

On February 24, 2017, the Texas Supreme Court reinstated a state trial court ruling that an “insured-versus insured” exclusion barred coverage under a D&O policy for the costs of defending a lawsuit. Because the D&O insurer...more

New York DFS Finalized Cybersecurity Regulations Go Into Effect March 1, 2017

by Bracewell LLP on

On February 16, 2017, the New York State Department of Financial Services (DFS) announced the final version of the “first-of-its-kind” cybersecurity regulations governing financial institutions, insurance companies, and other...more

Trio of Recent Decisions on the I v. I Exclusion Should Remind Policyholders to Annually Review the Language in Their Policy to...

D&O policies vary quite a bit from carrier to carrier, and language on “standard” exclusions can change from year to year. Accordingly, it is important to do a yearly review of your D&O policy to make sure your company has...more

NYS Department of Financial Services Cybersecurity Regulation Goes Live: Now What?

by White & Case LLP on

March 1, 2017 marks the effective date of the New York State Department of Financial Services (NYDFS) Cybersecurity Requirements for Financial Services Companies (the Rules). We previously reported on these emerging standards...more

ACCC continuing to target private health insurance in 2017

by DLA Piper on

The Australian Competition and Consumer Commission (ACCC) has singled out consumer issues in private health insurance as a priority area for 2017. Released on 24 February, the 2017 ACCC Compliance and Enforcement Policy...more

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Cybersecurity

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