Indemnification

News & Analysis as of

Can a Receiver Be Liable for Acts or Omissions that Occurred in a Case After Discharge?

The court has approved my final account and report, discharged me as receiver and exonerated my bond in a difficult, litigious case I am glad to have over. An elder receiver I know told me I could still be liable for acts or...more

Hong King: Companies Ordinance 2014 and Directors' Duties

A new Companies Ordinance (CO) came into effect in Hong Kong on 3 March 2014, which introduced a number of changes to the law on directors’ duties. ...more

Reinsurance Arbitration Dispute Transferred To Venues In Which Arbitrations Were Pending

National Indemnity Company (NICO) sought an injunction in a Nebraska federal district court to prevent Transatlantic Reinsurance Company and its subsidiary (collectively, Transatlantic Re) from commencing arbitration against...more

Why Indemnities Matter

Most business clients would rather be in the dentist's chair than sit through negotiation of the indemnity and liability provisions of their agreement. Admit it: your eyes glaze over, time appears to visibly slow down, and...more

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

Insurance Recovery Law

Insurer Should Have Considered Extrinsic Facts When Determining Whether A Potential for Coverage Existed, Ninth Circuit Concludes - Why it matters: In a fascinating – albeit unpublished – decision from the Ninth...more

Court Orders Pre-Pleading Security Posted In Reinsurance Disputes

Excalibur Reinsurance provided reinsurance to Travelers Indemnity. Disputes arose and Travelers filed two lawsuits against Excalibur in United States District Court in Connecticut. ...more

What Every California LCC Needs To Know About California's New Revised Uniform Limited Liability Company Act

New changes to California's limited liability company law affect many of the rules governing operation of limited liability companies ("LLCs"). These changes include the default provisions that automatically apply when the...more

Florida Supreme Court Rules an Insured Can Use Payments from a Third Party to Satisfy a Self-insured

On February 6, 2014, in Intervest Construction of Jax, Inc., et al. v. General Fidelity Insurance Company, the Florida Supreme Court held that an insured can use payments from a third party to satisfy a self-insured retention...more

New York Court of Appeals Sustains Delay in Disclaimer Based on Insured’s Lack of Cooperation

Will a New York court excuse an insurer’s delay in disclaiming coverage based on an insured’s failure to cooperate, when the facts confirm that it did so as soon as reasonably possible after it determined that the insured...more

Business Litigation Reporter - March 2014

Goodwin Procter’s Business Litigation Reporter provides timely summaries of key cases and other developments within dedicated Business Litigation sessions and related courts throughout the country – courts within which...more

Silence Is Golden: Reinsurer Ordered To Pay Prejudgment Interest To Insurance Company’s Liquidator On Agreement Silent As To...

A New Hampshire insurance company, Home Insurance Company (“Home”), was placed in liquidation in 2003. When its reinsurer Century Indemnity Company (“CIC”) tried to claim an $8 million setoff from amounts owed to Home, the...more

Brownfield land in the UK: environmental indemnities

Introduction - In this second in our series of briefings on topics relevant to those involved in brownfield land, we focus on environmental indemnities....more

February 2014: London Litigation Update

Parallel Judicial Proceedings in Europe: “The Alexandros T” [2013] UKSC 70. In a landmark decision, the U.K. Supreme Court has provided parties with a meaningful way to discourage opponents from commencing proceedings in the...more

New York High Court Reverses Course; Allows Carriers to Rely on Policy Exclusions Where Duty to Defend was Breached

K2 Investment Group, LLC. v. American Guarantee & Liability Ins. Co., No. 6, 2014 N.Y. LEXIS 201 (N.Y. Ct. of App. Feb. 18, 2014). In 2013, the New York Court of Appeals affirmed an order granting summary judgment to a...more

K2-II Update: Insurers’ Breach of Duty Does Not Result in Automatic Liability in New York

In a 4-2 split, the New York Court of Appeals unwound a 2013 ruling that raised significant concern for insurers in denying requests for defense in liability matters. As a result, it is once again the rule in New York that an...more

Insurance Recovery Law - Feb 18, 2014

Insurer Must Indemnify TCPA Settlement, Despite Lack of Involvement - Why it matters: In a closely watched case out of Illinois, an appellate court held that a $1.7 million settlement in a Telephone Consumer...more

New York’s Highest Court Rappels Down From Possible Major Shift in Insurance Law in K2 Decision

Today, the New York Court of Appeals elected to adhere to precedent in holding that an insurer is indeed allowed to rely on its policy exclusions when faced with a request for indemnity, even if the insurer was not correct in...more

Florida Court Holds Notice After Default Not Necessarily Prejudicial

In its recent decision in Indemnity Ins. Co. v. Caylao, Case No. 1D12-5733 (Fla. 1st DCA. Feb. 4, 2014) the First District Court of Appeals for the state of Florida had occasion to consider whether an insurer who receives...more

Infinite Data v. Amazon: Lawsuit Against Customer Defendants Stayed if Customers Agree to be Bound by Findings of Invalidity in...

Infinite Data filed twenty-one patent infringement actions against a number of companies, including Amazon.com. Mellanox Technologies sued Infinite Data for a declaratory judgment that its technology does not infringe...more

IRS Proposes Significant Changes to Rules for Allocating Partnership Liabilities

Proposed Regulations seek to curtail perceived abuses, including the use of “bottom-dollar” guarantees and some indemnity arrangements. On January 29, 2014, the Internal Revenue Service (IRS) proposed regulations that...more

Eye on Insurance - A Look Back at 2013 and Forward to 2014

In This Update: Introduction; Financial Institutions; Directors & Officers; Cyber; Professional Indemnity; Liability; Products; Property; Latin America; Reinsurance; and Litigation, Costs & Procedure. Excerpt...more

ABA’s 2013 Private Target Mergers & Acquisitions Deal Points Study: Financial Deal Points

Recently, the 2013 Private Target Mergers & Acquisitions Deal Points Study was finalized by the M&A Market Trends Subcommittee of the Mergers & Acquisitions Committee of the American Bar Association. This bi-annual study,...more

Insurance Recovery Law - Jan 30, 2014

California Court Recognizes Named, Additional Insureds Have Different Expectations - Why it matters: While the holding sounds straightforward – the reasonable expectations of an additional insured about the...more

Insurance Relationships Revisited

In a recent decision of the NSW Court of Appeal (the Court) in Horsell International Pty Ltd v Divetwo Pty Ltd [2013] NSWCA 368, a firm of insurance brokers (Horsell) was ordered to indemnify an insured (Divetwo) in...more

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