News & Analysis as of

Subsidiaries Denial of Insurance Coverage

Wiley Rein LLP

No Coverage for Wrongful Termination Claim After Employer Ceased to be an Insured Under D&O Policy

Wiley Rein LLP on

The United States District Court for Montana, applying Canadian (Ontario) law, has ruled that an entity had no coverage under a D&O policy for a claim alleging wrongful termination one month after the entity ceased to be a...more

Farella Braun + Martel LLP

In Verizon Decision Careful Review of Insurance Policies Expands Coverage

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

Neal, Gerber & Eisenberg LLP

Policy Buyback Settlement Cannot Extinguish Coverage for Former Subsidiary

On July 11, 2019, in Magnetek, Inc. v. The Travelers Indem. Co., Case No. 17 C 3173, Judge Robert Gettleman of the Northern District of Illinois issued an important decision preserving insurance coverage for a former...more

Dechert LLP

Restructuring and Insolvency Bulletin Issue 1 - 2017: United States: D&O Insurance Policies – a cautionary tale: the Peril of...

Dechert LLP on

Directors and officers (D&Os) of troubled companies should be highly sensitive to D&O insurance policies with Prior Act Exclusion. While policies with such exclusion may be cheaper, a recent decision by the U.S. Court of...more

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