A bankruptcy judge is allowing current and former officials with the parent company of Silicon Valley Bank to tap into the $210 million in insurance coverage available through directors and officers liability policies to defend themselves against litigation that followed …
Charles Alan Pflueger was convicted of tax fraud nearly a decade ago, paid a fine and finished his prison term, but the lawsuit he filed against his insurance broker because of its alleged mishandling of those criminal charges lives on. …
In 2021, Florida’s domestic property insurers spent more than $3 billion on legal defense costs and containment – double the figure reported in 2016. That’s one jaw-dropping but not surprising takeaway from the Florida Office of Insurance Regulation’s recently posted …
Simply stated, insurance policy deductibles or retentions are a dollar threshold that must be satisfied before an insurer will pay any defense or indemnity costs on a claim.[1] Many insureds seek to contain their insurance premium costs by purchasing policies …
Directors and officers liability insurance policies often contain exclusions for losses related to criminal or deliberately fraudulent activities. Such exclusions usually are limited to circumstances in which the fraud or crime is finally adjudicated. The path from initial allegations to …
Because of “ambiguous” policy language in a complicated insurance contract, a directors and officers insurer may be liable for more than $600,000 in legal fees paid by the founder of a business that was sued by its investors. A panel …
An insurer that paid to defend a policyholder against a lawsuit, but determined later that no coverage was owed, is entitled to reimbursement for its costs, a divided Nevada Supreme Court said. In a 4-3 decision on Thursday, the high …
WILMINGTON, Del. — Lawyers for Harvey Weinstein’s bankrupt film studio on Wednesday presented a revised proposal to settle sexual misconduct claims against the disgraced former producer, but an attorney for accusers pledged to oppose the plan. The $35.2 million proposal …
Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies that protect the bosses, industry sources say. Two cases have been filed in the United States in …
On July 23, the U.S. Court of Appeals for the Eleventh Circuit, in Crowley Maritime Corp. v. Nat’l Union Fire Ins. Co. of Pittsburgh, PA held that, because Crowley Maritime Corp. failed to provide timely notice of a claim, National …