Long a feature of directors’ and officers’ (D&O) liability insurance policies, the so-called “Bump-Up” Exclusion has gotten significant attention over the last few years. Because of the recent escalation in securities...more
In 2020 and 2021, Special Purpose Acquisition Companies (SPACs) were all the rage. A SPAC is a “blank check company,” publicly traded, and organized for the purpose of merging with a private company. It’s a mechanism for a...more
12/20/2022
/ Brokers ,
D&O Insurance ,
Excise Tax ,
Inflation Reduction Act (IRA) ,
Initial Public Offering (IPO) ,
Insurance Industry ,
Investigations ,
Liquidation ,
Mergers ,
Publicly-Traded Companies ,
Special Purpose Acquisition Companies (SPACs)
The past several decades have muddied what once was a clear relationship between policyholders and their insurers. For pre-1987 occurrence-based policies in particular, policyholders face an increasingly familiar scenario:...more
Last month, we discussed a decision by the Northern District of Illinois finding an amount labeled “restitution” in a settlement between a pharmaceutical company and the DOJ was insurable loss under a D&O policy. Shortly...more
A feature of most corporate liability insurance programs is the tower system of coverage: a primary policy with several overlying excess policies stacked atop one another collectively providing coverage up to a desired (or...more
In recent weeks, two insurers with significant legacies of occurrence-based general liability coverage took important steps to liquidate their estates.
Bedivere Insurance Company (OneBeacon) Liquidation -
The first...more
“Service of Suit” limitation period to file is less than a month away -
Many insurance policies have various limitation periods and exclusions built into them. One such limitation period is known as a “service of suit”...more
One word that aptly describes the devastation that is 2020 is “relentless.” The COVID-19 pandemic has caused both personal and economic suffering throughout the world for over six months. Against the backdrop of the already...more
Cyberattacks are an increasingly frequent and costly risk faced by almost every business today. While the availability and scope of cyber-specific insurance has developed exponentially over the past few years, it is important...more
2/10/2020
/ Commercial General Liability Policies ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Denial of Insurance Coverage ,
Hackers ,
Insurance Claims ,
Insurance Industry ,
Insurance Litigation ,
Policy Exclusions ,
Property Insurance ,
Ransomware ,
Summary Judgment
Northwestern National, the successor to Bellefonte Insurance Company, was placed into liquidation by a court in Wisconsin in May. Northwestern National was previously put into rehabilitation by the Wisconsin Office of the...more
When a company receives a claim or lawsuit, it is critical to provide timely notice to its insurers. But when the claim is first made, sufficient facts may not yet be known to indicate which policy will respond. Many policies...more
When you’re buying a new car, you rely on a good salesperson to impress you with all of its features and gadgets. But when it’s time for maintenance, or when something goes wrong, you don’t go back to that salesperson to look...more