Policyholder Observer - March 7, 2012

The Observer highlights significant developments in insurance recovery and risk management

In This Issue:

- Into the Data-Security Breach: Risks, Liability, and Insurance Recovery for Companies and Their Directors

- Fifth Circuit’s Expansive Reading of Contractual Liability Exclusion Serves as a Reminder That How Corporate Transactions Are Structured Can Affect Coverage

- Massachusetts Federal Judge Dismisses Insurer’s Misrepresentation Claims in $650M Suit on Coverage for Mortgage-Backed Securities

- Update: Virginia Supreme Court Grants Rehearing in Global Warming Coverage Case

- West Virginia Trial Court Finds that Pollution Exclusion Does Not Bar Coverage for Claims Against Coal Company, Rejecting Insurers’ Argument That Policyholder’s Core Product Is a “Pollutant”

- New York Appellate Court Rules That an Insurer Cannot Delay Issuance of a Disclaimer on a Ground Known by the Insurer While Investigating Other Potential Grounds for Denial

- Utah Supreme Court Holds that Insurer Cannot Seek Reimbursement of Amounts Paid in Excess of Policy Limits to Settle a Judgment Against Its Insured

- Fourth Circuit Finds Coverage Under Commercial Package Insurance Policy For Defense Costs and Penalties Incurred in Wage-Hour Dispute

- The Home Insurance Company Proposes Interim Distribution

Please see full update below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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