D&O Insurance

News & Analysis as of

Eleventh Circuit Denies Coverage for Wrongful Acts of Directors and Officers That Arose Out of Their Wrongful Acts as Trustees, an...

On Monday, June 22, 2015, the Eleventh Circuit, in The Langdale Company v. National Union Fire Insurance Company of Pittsburgh, PA, No. 14-12723 (11th Cir. 2015), ruled for the insurer on a “capacity” exclusion in a director...more

Eleventh Circuit Affirms Summary Judgment for Insurer Based on "Other Capacity" Exclusion

On June 22, the Eleventh Circuit affirmed the grant of summary judgment in favor of National Union Insurance Company of Pittsburgh, Pa., in an action where the insured sought $10 million in coverage under a D&O policy. The...more

Appellate Watch: Eleventh Circuit Asked to Interpret Contractual Liability Exclusion In D&O Policy

Because insurers generally draft their own policies, it is a common rule of construction that ambiguous terms will be construed against the insurers. However, in Bond Safeguard Ins. Co. et al. v. National Union Fire Insurance...more

How to Protect Your Company’s Bottom Line Against Data Breach Losses Through Insurance

In the wake of what seems to be daily announcements of new data security breaches and increased regulatory oversight over company information security and privacy practices, companies are looking for ways to minimize risks...more

Cybersecurity Coverage Litigation: Learning to Survive After the Second Wave Hits

It’s a familiar pattern. First, new risks inspire legislation and regulations that impose new penalties. Next, insurers and policyholders fight over whether the new liabilities are covered under traditional liability...more

Insurance Recovery Law - June 2015 #3

No Policy? No Problem, The First Circuit Rules In A Coverage Dispute - Why it matters: This case addresses the standard for pleading a missing insurance policy where the alleged insured, a private educational...more

Insurance Recovery Law - June 2015 #2

No Policy? No Problem, The First Circuit Rules In A Coverage Dispute - Why it matters: This case addresses the standard for pleading a missing insurance policy where the alleged insured, a private educational...more

Kentucky Federal Court Sustains Hospital Insurer’s Denial of Claim Due to Untimely Notice, Declines to Require Insurer Show...

The U.S. District Court for the Eastern District of Kentucky recently held that an insurer properly denied coverage to a hospital because the hospital gave untimely notice of the claim. In Ashland Hospital Corporation v. RLI...more

The Intersection of Cyber and D&O Coverage [Video]

From the 2015 PLUS D&O Symposium session “Parting Shots: A Conversation with Industry Leaders,” moderator James Skarzynski (Skarzynski Black LLC) and panelists Dan Fortin (Berkshire Hathaway Specialty Insurance), Lisa Butera...more

Is Private/Non-Profit D&O Coverage Under Priced? [Video]

From the 2015 PLUS D&O Symposium session “Who Me? I Didn’t Do Anything…Wrong,” moderator Jeff Lattmann (Beecher Carlson) and panelists Liz Olsson, RPLU (Wells Fargo Insurance) and Shelley Norman (AIG) discuss the differences...more

Protecting Directors and Officers From Derivative Liability Arising From Data Breaches

With data breaches affecting companies across virtually every industry, cyber security has remained front page news. Lawsuits brought by aggrieved consumers and financial institutions against companies that have suffered data...more

Why Directors and Officers Should Demand a Separate Indemnification Agreement

Corporate directors and officers (“D&O’s”) face significant personal exposure whenever their corporation is involved in a dispute or investigation. For this reason, prudent D&O’s avail themselves of all available legal...more

Policyholders Should Resist Insurer Demands to Allocate Settlements

« California’s “Independent” Cumis Counsel Regime Faces A Novel Challenge | Main by Dennis Cusack Policyholders seeking insurance funds to settle a case often face an insurer’s demand that some amount should be allocated to...more

Kentucky Court Holds D&O Policy Not Triggered By Suit Against Condo Board

In its recent decision in State Auto Prop. & Cas. Ins. Co. v. Highland Terrace Counsel of Co-Owners, Inc., 2015 U.S. Dist. LEXIS 59663 (W.D. Ky. May 7, 2015), the United States District Court for the Western District of...more

Halliburton: Good for the Plaintiffs’ Bar? [Video]

From the 2015 PLUS D&O Symposium session “The Post-Halliburton World: Securities Class Action Update,” moderator Darryl P. Rains (Morrison & Foerster LLP) and panelist Ramzi Abadou (Kahn Swick & Foti LLP) discuss the impact...more

Seeing the Finish Line: Courts Increasingly Exempt Claims-Made Policies from the Notice Prejudice Rule

In a majority of jurisdictions, the “notice-prejudice rule” provides that an insurer may not deny a claim on grounds of late notice without demonstrating prejudice. The rule is statutory in some states and judicially crafted...more

Insurance Recovery Law - May 2015

California Appellate Court: All Claims “Arising From” Ponzi Scheme Are Precluded - Why it matters: Concluding that any claims related to a Ponzi scheme—even if they involved different investors, investments, or...more

D&O in Brazil and Latin America [Video]

From the 2015 PLUS D&O Symposium session “Emerging International Exposures: What’s Next in Your Neck of the Woods?,” moderator Kevin M. LaCroix, Esq., RPLU (RT ProExec) and panelists Marcus Smithson (Assicurazioni Generali...more

Five Steps To Data Breach Coverage For Card Issuer Liability

Target’s $19 million settlement with MasterCard underscores very significant sources of potential exposure that often follow a data breach incident. In the wake of any significant breach involving payment cards, such as the...more

Avoiding Personal Liability: A Guide For Directors And Officers

According to the popular media, we are living in an era of corporate crime. Scandals like Enron, HealthSouth and WorldCom stretch so far back they seem like they are not even of this millennium. Among the milestones since...more

Mind the Gap! Avoiding Unexpected Gaps in Insurance Programs

No one insurance policy covers all liability risks. Risk managers expect to purchase several types or layers of insurance to cover different types of insurance liabilities, to provide sufficient limits for a catastrophe loss,...more

Defray the Costs of CFPB Actions by Utilizing Your Insurance Portfolio

Each year since its creation in 2011, the Consumer Financial Protection Bureau (“CFPB”) has steadily increased the number of investigations and enforcement actions commenced against financial companies. These investigations...more

Late Notice of Claim Costs Kentucky Hospital $10 Million

A federal court in Kentucky ruled on March 17 that Ashland Hospital had forfeited $10 million of insurance coverage because it was late in notifying its insurance company of the claim....more

Cybersecurity Securities Class Actions: A Wave or Trickle?

One of the foremost uncertainties in securities and corporate governance litigation is the extent to which cybersecurity will become a significant D&O liability issue. Although many D&O practitioners have been bracing for a...more

Mississippi Supreme Court Limits Broker Liability Where Insured’s Conduct Is Uninsurable

When an insurance claim is denied, policyholders sometimes look to their broker as a potential source of recovery. Generally speaking, a broker owes its client the duty to procure the scope of coverage requested. When a...more

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