NGE On Demand: Insurance and Indemnity Issues for Family Offices with Angela Elbert
Directors and officers (D&O) and errors and omissions (E&O) policies often contain “capacity” limitations, which restrict coverage to claims against the insured alleging acts undertaken by the insured in his or her insured...more
The use of Artificial Intelligence and Machine Learning technologies can improve operational efficiencies and enhance business innovation. But AI/ML tools also present certain use-case-specific risks, such as copyright and IP...more
If I own or manage a private trust company (PTC), what insurance do I need? This is a great question and, as in many situations, the answer is that it depends. It depends on whether a public trust company is involved, whether...more
So far, 2022 has been a rough year for portfolio management. The war in Ukraine, China’s zero tolerance for COVID-19, 40-year inflation highs, and rising interest rates have created significant market volatility....more
Family Offices that serve high-net-worth individuals have been in recent global headlines as governments target them in an effort to tax corporate and individual gains....more
On December 31, 2021 New York Governor Kathy Hochul signed into law the Comprehensive Insurance Disclosure Act (the “Act”), placing significant burdens on defendants in litigation. Under the Act defendants must produce...more
Reversing the New York Appellate Division, First Department, the New York Court of Appeals, in a 6–1 landmark decision, held that a $140 million disgorgement payment is an insured "loss," after a long history of insurance...more
Consider a hypothetical in which a defense attorney receives an urgent telephone call from one of her firm’s long-standing clients, a diagnostic imaging center with several locations in the tri-state area that just received a...more
NGE Insurance Policyholder partner Angela Elbert presents an overview for family office clients addressing the unique range of personal, commercial, financial and investment risks they face. If you have any questions,...more
A federal district court has ruled that a third-party administrator’s professional liability policy does not afford coverage for a claim against the TPA arising from an excess judgment against the TPA’s...more
Applying Illinois law, a federal district court has held that an insurer did not have a duty to defend or indemnify for a lawsuit that was filed and dismissed prior to the policy period and later refiled during the policy...more
The United States District Court for the District of Kansas, applying Kansas law, has held that an excess E&O insurer was required to advance defense costs where coverage under a potentially responsive D&O policy had not yet...more
Today, Facial Recognition Technology Is Everywhere. As It Invades Every Aspect Of Our Lives, Shutdown Or Not, Technological Advances, News Coverage, And Legal Approaches Concerning Such Technology Continue To Expand And...more
As the economic impact of COVID-19 continues to reverberate across all global industries, there is an increased risk of claims being asserted against private fund managers, their funds and portfolio companies, as well as key...more
A federal district court in North Dakota recently granted an insurer’s motion to dismiss in Campbell Property Management LLC v. Lloyd’s Syndicate 3624, finding that both prongs of a “commingling exclusion” to coverage...more
The effects of the novel coronavirus on individual businesses and the larger economy cannot be forecasted with precision, but are virtually certain to be profound. As companies await a better understanding of the specifics of...more
In the recent weeks our risk management team has identified a number of insurance-related issues relevant to clients dealing with the outbreak of the disease caused by the novel coronavirus, known as COVID-19, that we felt...more
Businesses across a wide range of industries are grappling with how to address the practical and legal concerns that have been created by the COVID-19/coronavirus outbreak. Businesses have started asking when and how they...more
Make an inventory of risk pathways that could affect your business. Identify essential supply chains, raw materials or parts providers and service providers to assess impact of potential disruptions....more
Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more
In Crum & Forster Specialty Insurance Co. v. DVO, Inc., No. 18-2571 (7th Cir. Sept. 23, 2019), the Seventh Circuit reversed a decision of the U.S. District Court for the Eastern District of Wisconsin, finding that the...more
Attorneys at White and Williams explain the types of insurance new businesses should consider, based on risk and liabilities. ...more
“Related Claims” provisions in directors and officers (D&O) and errors and omissions (E&O) policies, while common, can spawn disagreement as to scope and application. ...more