News & Analysis as of

Reservation of Rights D&O Insurance

White and Williams LLP

Delaware District Court Holds D&O Policy Does Not Cover Acts Prior to Insured’s Formation, and Rejects Attempt to Obtain Coverage...

White and Williams LLP on

In a decision addressing several coverage issues under a directors and officers liability policy, a Delaware federal court held that coverage did not extend to claims based on acts alleged to have taken place before the...more

Wiley Rein LLP

Insurer Owes Duty to Defend and Indemnify Nuisance Litigation

Wiley Rein LLP on

A federal district court, applying California law, has held that an insurer owed a duty to defend and indemnify an insured in an underlying nuisance litigation under a not-for-profit D&O policy, as the policy’s pollution,...more

Carlton Fields

Look No Further Than the Insuring Clause: Ill-Gotten Gains Do Not Constitute Covered “Loss”

Carlton Fields on

On August 26, 2019, the Eleventh Circuit Court of Appeals, applying Florida Law, held that ill-gotten gains do not constitute covered “loss” within the meaning of a D&O policy. In Philadelphia Indemnity Insurance Co. v. Sabal...more

Cozen O'Connor

When is Rescission Based Upon Material Misrepresentations The Proper Course of Action?

Cozen O'Connor on

Carriers rely on application representations regarding the existence of potential claims. Sometimes, the carrier learns after the fact that an applicant may not have reported all known potential claims. What can/should the...more

Cozen O'Connor

Allocation Clause Held Enforceable in a Duty To Defend D&O Policy

Cozen O'Connor on

In Housing. Auth. of New Orleans v. Landmark Ins. Co., 2016 U.S. Dist. LEXIS 24419 (E.D. La. Feb. 29, 2016), the court provided a rare analysis of the interplay between a duty to defend in a D&O policy and the allocation...more

Goodwin

When The Government Comes Knocking: Maximizing Insurance Coverage for Government Investigations

Goodwin on

As many readers will know, a government investigation can begin with something as seemingly innocuous as an email from a governmental agency to a company’s general counsel asking for information, or as attention-grabbing as a...more

Manatt, Phelps & Phillips, LLP

Insurance Recovery Law -- January 2015

Insured v. Insured Exclusion Ambiguous When Applied to FDIC, 11th Circuit Rules - Why it matters: In the continuing split among courts considering insured v. insured exclusions, the Eleventh U.S. Circuit Court...more

Manatt, Phelps & Phillips, LLP

Insurance Recovery Law - September 2014 #2

D&Os Entitled to Unfettered Access to Bankrupt Company’s Policy Proceeds to Fund Defense Costs: Why it matters - In an important victory for directors and officers of a bankrupt company, a New York court...more

Manatt, Phelps & Phillips, LLP

Insurance Recovery Law - May 2014

Policyholder Entitled to Select Counsel, Even Where Insurer Withdrew Reservation of Rights - Why it matters: An insured dissatisfied with counsel selected by its insurer was entitled to select counsel of its...more

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