Fraudulent Transfers, Policy Exclusions

Fifth Circuit Finds Coverage for Untimely Fraudulent Wire Instruction Claim Is Not Barred Under D&O Policy

Carlton Fields on 10/14/2021

The Fifth Circuit Court of Appeals recently reversed a ruling that a directors and officers liability policy provided no coverage for an insured financial services firm that fell for a scam involving a fraudulent direction to...more

In Verizon Decision Careful Review of Insurance Policies Expands Coverage

Farella Braun + Martel LLP on 6/4/2021

In Verizon Communications Inc. v. National Union Fire Insurance Co. of Pittsburgh, Pa. the Delaware Superior Court ruled that Verizon was entitled to a defense under its D&O policy for fraudulent transfer claims. Although the...more

Fintech Company Secures Indemnity Coverage Under Professional Liability Policy for Fraudulent Funds Transfer Claim

Lowenstein Sandler LLP on 2/13/2020

What You Need To Know: - Recent case law is trending favorably for policyholders to secure coverage for computer fraud claims under a wide array of insurance policies. - Because several types of policies may be...more

Beware of Prior Act Exclusions and Retroactive Dates When Procuring or Renewing Coverage

Bradley Arant Boult Cummings LLP on 9/22/2017

An 11th Circuit decision issued earlier this year serves as a reminder of the importance of carefully evaluating time-based exclusions and retroactive dates when procuring or renewing coverage. Liability policies such as...more

“Arising” tide for insurers: 11th Circuit takes expansive view of Prior Acts Exclusion

Carlton Fields on 8/3/2017

Claims-made policies often cover acts that occur before a policy period, so long as they result in a covered claim during the policy period. This is a fundamental difference between claims-made and occurrence policies. But...more

U.S. Bank v. Indian Harbor: Another Blow to the Restitution/Disgorgement Defense

Pillsbury Winthrop Shaw Pittman LLP on 8/7/2014

In recent years, purchasers of D&O and professional liability insurance have been stunned to learn that their carriers have denied coverage for a wide range of claims on the theory that their policies do not cover loss that...more