Indemnification Clauses

News & Analysis as of

11th Circuit Finds a Covered “Occurrence” Under CGL Policy For Damages Resulting From Contractor’s Faulty Work and Rejects...

In Pennsylvania National Mutual Insurance Company v. St. Catherine of Siena Parish, 790 F.3d 1173 (11th Cir. 2015), a judgment was obtained by the Parish (a Catholic Church) against Kiker Corporation (“Kiker”), which was...more

Representation and Warranty Insurance: No Longer Optional - Deal Terms and Trends - Summer 2015

Representation and warranty insurance (R&WI) has become an integral component of the M&A landscape and is here to stay. The data speaks for itself: in 2014, more than 700 U.S. R&WI policies were issued, which was double the...more

Construction Case Law Update - July 2015 #2

CGL Policies; Declaratory Judgments; Appeal of a Partial Final Judgment – A commercial general liability insurer and its insured sought declaratory relief over the question of insurance coverage and the duty to defend...more

Perspectives on Insurance Recovery

Welcome to the latest edition of Pillsbury’s Perspectives on Insurance Recovery. As this 2015 edition of Perspectives demonstrates, our team is working on the most challenging issues—from cyber-insurance and complex claims...more

Fee Advancement Considerations Arise From Recent Delaware and Third Circuit Decisions

Recent decisions by the US Court of Appeals for the Third Circuit and the Delaware Court of Chancery have raised important issues regarding fee advancement bylaws or policies of Delaware corporations. Please see full...more

The SEC’s Unconvincing Case Against Indemnification

The Securities and Exchange Commission’s proposed rules take a hard line against issuers indemnifying executives against clawbacks: We believe that indemnification arrangements may not be used to avoid or nullify the recovery...more

Construction Case Law Update - July 2015

Involuntary Dismissal of Counterclaims – In a suit between a developer and general contractor, the trial court erred in dismissing the general contractor’s counterclaims, without a motion by the developer, before the...more

Massachusetts Appeals Court Adopts Two-Prong Continuity and Profit Motive Test to Determine Whether Business Pursuits Exclusion...

The Massachusetts Appeals Court has provided some much needed guidance on the “business pursuits exclusion” in a recent coverage dispute between a homeowners’ insurer and a commercial liability insurer. In Preferred Mutual...more

Equities Favor Subrogating Insurer Over Subcontractor That Performed Defective Work

In Valley Crest Landscape v. Mission Pools (No. G049060, filed 6/26/15, ord. pub. 7/2/15), a California appeals court held that equities favor an insurer seeking equitable subrogation over a subcontractor that agreed to...more

Contractual Provisions Can Aid in the Recovery of Attorney’s Fees, But Consider the Unintended Consequences

Although the “American Rule” provides that each side pay its own attorneys’ fees, if your dispute arises from a contractual relationship, a “prevailing party” provision or indemnification clause may obligate one of the...more

SEC Proposes Clawback Rules

Yesterday, the SEC proposed the long-awaited executive compensation clawback rules under Section 954 of the Dodd Frank Act. Weighing in at over 100 pages, there is a lot to digest. This McGuireWoods client alert provides an...more

Customer Indemnity

Software publishers that try to require an indemnification clause from their customers for use of the publisher’s software are often met with resistance. Providing software generally creates a risk to the customers that buy...more

Chancery Court Expands on When Legal Fees Can Be Advanced

Advancement and indemnification rights provide directors and officers of Delaware corporations comfort when accepting positions that often lead to being named in litigation. However, once the interests of the executive and...more

Don’t Wait Until It’s Too Late: Top 10 Recommendations for Negotiating Your Cyber Insurance Policy

As more and more companies of all sizes ranging across a wide spectrum of industries have been exposed to network and data security breaches in recent years, the market for insurance products dedicated to cover cyber risks...more

To Be or Not to Be – an Insured Contract: Coverage for Breach of Warranty Claims

In Bituminous Casualty Corporation v. Plano Molding Company, 2015 IL App (2d) 140292, the Illinois Appellate Court tackled one of the most misunderstood issues in the commercial general liability policy: does an obligation to...more

Impact of the Cigna Health Decision on the Use of the Merger Structure in Private Acquisitions

When buying a private company controlled by a private equity sponsor but with a substantial number of other shareholders, a common technique to avoid the need to obtain signatures from all the shareholders to a stock purchase...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

Construction Law Update - May 2015

Today’s newspapers in the central Pennsylvania area have been fraught with concerns and questions regarding the construction of the William’s gas pipeline running from the Marcellus Shale areas of Pennsylvania to the east...more

Indemnification May Not Be Available in Contracts with the State

Government contracts with the State of Ohio provide a number of potential opportunities for service contractors, but many contractors may be surprised to learn that the State will not agree to enter into any contract that...more

The SEC Continues to Turn Up the Heat on Private Equity’s Fees, Expenses and Valuation Practices

On April 3, 2015, The Wall Street Journal reported that private equity adviser Fenway Partners LLC (Fenway) received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) in March 2015 regarding Fenway’s...more

R&W Insurance in Middle-Market M&A

As competition for middle-market M&A transactions becomes more acute, prospective buyers, particularly private equity firms, wishing to distinguish themselves from others may employ representation and warranty insurance (R&W...more

Letters of the Law: 'G' is for Guarantee

Security in the form of guarantees (or bonds) is common practice in construction projects. With contractors, sub-contractors, suppliers and even consultants being required to provide some or all of tender, performance,...more

Indemnification in Contracts with the State of Ohio

Government contracts with the State of Ohio provide a number of potential opportunities for service contractors, but many contractors may be surprised to learn that the State will not agree to enter into any contract that...more

Down in the Dumps: Court Refuses to Apply Pollution Exclusion in Landfill Seepage Case

Claims involving potential coverage for pollution liability pose unique challenges for insurers. In many cases, the polluting activity occurred decades ago and over a large span of time, with only a fraction of the activity...more

Re-examining the M&A Playbook for Non-consenting Stockholders in Light of Cigna Health

In a case that is likely to impact M&A structuring for certain transactions, the Delaware Court of Chancery held that (1) stockholder release obligations found only in a letter of transmittal and not in the related merger...more

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