News & Analysis as of

Policy Observer - March 2014

D&O Coverage for Subpoena Response Costs: An Emerging Consensus? Responding to a subpoena can be an expensive proposition. Fortunately, in many instances, a company can call upon its D&O insurer to help defray the...more

Texas Court Holds Suit Under D&O Policy Not Ripe for Declaratory Judgment

In its recent decision in American Construction Benefits Group, LLC v. Zurich Am. Ins. Co., 2014 U.S. Dist. LEXIS 5147 (N.D. Tex. Jan. 15, 2014), the United States District Court for the Northern District of Texas had...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

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

Policy Observer - July 2013

Getting Over the Bar: Second Circuit Requires Actual Payment of Underlying Limits In Order to Trigger Excess D&O Policies - In June, the Second Circuit held that two Federal Insurance Company ("FIC") excess D&O...more

California Court: Insurer Cannot Avoid Contractual Commitment to Defend Insured Against Federal Criminal Charges

In an important decision for directors, officers, non-profit executives and other insureds under directors and officers (D&O) and other liability insurance policies, the California Court of Appeal has held that an insurer...more

Financial Coverage Issues: Obtaining D&O Proceeds

Directors and Officers (“D&O”) policies, like all insurance contracts and contracts in general, are governed by the specific wording unique to each contract. Nonetheless, there are several issues that can arise as to the type...more

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