The financial institutions insurance solutions offered by Alliant cover a wide range of liability exposures.
Insight

Financial Lines Executive Liability Newsletter

By Alliant

Navigating today’s complex risk environment can be a monumental task. Steve Shappell, Alliant Claims & Legal, spearheads Executive Liability Insights, a monthly review of news, legal developments and information on executive liability, cyber risk, employment practices liability, class action trends and more.

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2022 Issues

In this issue:

  • EXCESS INSURER'S NON-FOLLOW FORM EXCLUSIONARY LANGUAGE BARS COVERAGE DESPITE PAYMENT BY ALL UNDERLYING INSURERS
  • PLAIN MEANING OF INSURANCE: IF FACTS ALLEGED IN A COMPLAINT FALL WITHIN POLICY’S COVERAGE, INSURER HAS TO PAY
  • SURGICAL CENTER’S PROFESSIONAL LIABILITY COVERAGE RESCINDED DUE TO MISREPRESENTATIONS ON RENEWAL APPLICATION
  • COURT RELIES ON POLLUTION EXCLUSION TO HOLD D&O INSURER HAS NO DUTY TO DEFEND OR INDEMNIFY
  • FAILURE TO TIMELY REPORT SUIT AGAINST ENTITY BARRS COVERAGE FOR OFFICERS SUBSEQUENTLY ADDED TO LITIGATION
  • “INTERRELATED” LEGAL MALPRACTICE CLAIM BARRED FROM COVERAGE UNDER PROFESSIONAL LIABILITY POLICY
  • SUPREME COURT OF SOUTH DAKOTA ALLOWS STATE STATUTE TO CONTROL OVER POLICY

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In this issue:

  • PRIOR KNOWLEDGE EXCLUSION IN WARRANTY LETTER BARS COVERAGE FOR SEC AND DOJ SUITS UNDER D&O POLICY
  • BROAD EXCLUSIONS IN D&O POLICY DO NOT PRECLUDE COVERAGE FOR FALSE CLAIMS ACT SETTLEMENT
  • PUNCTUATION MATTERS IN CREDIT UNION’S COVERAGE FOR CONSUMER CLASS ACTION
  • THEFT OF FUNDS EXCLUSION PRECLUDES COVERAGE UNDER PROFESSIONAL LIABILITY POLICY
  • DOJ INVESTIGATING BOARD SEATS UNDER THE CLAYTON ACT
  • NEW DOJ CORPORATE CRIMINAL ENFORCEMENT POLICIES
  • IRRECONCILABLE “OTHER INSURANCE” CLAUSES RESULT IN PRORATED DEFENSE COSTS

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In this issue:

  • INSUREDS HAD DUTY TO DISCLOSE ONGOING SEC INQUIRY IN WARRANTY LETTER
  • WHAT DOES "CORRELATED" MEAN? THIS COURT PULLED OUT ITS DICTIONARY TO EXPLAIN
  • OKLAHOMA FEDERAL COURT SAYS INSURER MUST SHOW PREJUDICE UNDER CLAIMS-MADE POLICY
  • COURT RULES IN FAVOR OF D&O POLICYHOLDER SEEKING COVERAGE FOR RELATED ANTITRUST SUITS
  • CGL POLICY CANNOT COMPENSATE FOR ADSENSE OF D&O COVERAGE
  • INSIDER-TRADING ALLEGATIONS FALL WITHIN D&O POLICY'S DEFINITION OF 'SECURITIES CLAIM'
  • DELAWARE COURT RULES DO POLICY COVERS CHOCOLATIER IN DISPUTE OVER FALSE LABEL
  • FAILURE TO PREVENT A CYBER-HACK NOT A BREACH OF OVERSIGHT DUTY

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In this issue:

  • CLAIMS CONCERNING PRE-IPO TRANSACTIONS NOT INTERRELATED UNDER D&O POLICY
  • DELAWARE EXPANDS EXCULPATION TO CORPORATE OFFICERS
  • NO COVERAGE FOR COPYRIGHT INFRINGEMENT SUIT UNDER PROFESSIONAL LIABILITY POLICY
  • DELAWARE SUPREME COURT RULES FOR SHAREHOLDERS IN APPRAISAL RIGHTS LAWSUIT
  • A "SPECIAL" STANDARD FOR SPECIAL LITIGATION COMMITTEES
  • SOPHISTICATED INSURED WILL NOT RECEIVE PROTECTIONS OF CONTRA PROFERENTEM

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In this issue: 

  • INSURER SEEKS TO RESCIND CYBER POLICY DUE TO MISREPRESENTATIONS IN APPLICATIONS
  • DELAWARE CHANCERY COURT RELIES ON ZUCKERBERG THREE PRONG TEST
  • SPAC REVENUE PROJECTIONS NOT TANTAMOUNT TO FRAUD
  • UNREGISTERED SECURITIES EXCLUSION IN PROFESSIONAL LIABILITY POLICY RELIEVES INSURER OF DEFENSE OBLIGATION
  • BREACH OF CONTRACT EXCLUSION IN PRIVATE EQUITY LIABILITY POLICY PRECLUDES DEFENSE OBLIGATION IN DRUG CARTEL FRAUD CASE
  • ERISA CASE INVOLVING MUTUAL FUND CLASS SELECTION MOVES FORWARD

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In this issue: 

  • 9TH CIRCUIT UPHOLDS DELAWARE FORUM SELECTION CLAUSE, DISMISSING "CORPORATE DIVERSITY" DERIVATIVE SUIT
  • FEDERAL JUDGE ALLOWS SECURITIES CLASS ACTION AGAINST GLOBAL BANK TO PROCEED
  • CONTRACT EXCLUSION IN D&O POLICY PRECLUDES COVERAGE
  • PRE-MERGER CONDUCT DOES NOT CONSTITUTE WRONGFUL ACT UNDER D&O POLICY
  • D&O INSURERS TO PAY $124M OPIOID-RELATED DERIVATIVE SETTLEMENT
  • D&O INSURER'S DUTY TO DEFEND SEPARATE FROM DUTY TO INDEMNIFY
    UNTIMELY NOTICE UNDER CRIME POLICY NOT EXCUSED BY NOTICE-PREJUDICE EXCEPTION

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In this issue: 

  • HOSPITALITY COMPANY'S CYBERSECURITY DISCLOSURES DID NOT VIOLATE SECURITIES LAWS
  • CASES INVOLVING INTERRELATEDNESS RESULT INOPPOSING OUTCOMES
  • CALIFORNIA UPHOLDS FEDERAL FORUM PROVISIONS IN IPO SHAREHOLDER LITIGATION
  • ACTUAL RATHER THAN CONSTRUCTIVE NOTICE DETERMINES WHEN CLAIM IS MADE UNDER LIABILITY POLICY
  • COURT FINDS BANK'S OVERDRAFT FEES ARE NOT USURY
    CHANCERY RULES ACQUISITION OF SOLAR POWER COMPANY WAS "ENTIRELY FAIR"

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In this issue: 

  • COURT KEEPS INVESTORS’ FRAUD ALLEGATIONS ALIVE IN CYBERSECURITY-RELATED SECURITIES SUIT
  • DERIVATIVE SUIT DISMISSED FOR FAILURE TO SPECIFICALLY ALLEGE DEMAND FUTILITY UNDER OHIO LAW
  • SCOTUS LIMITS FEDERAL JURISDICTION TO CONFIRM OR VACATE ARBITRATION AWARDS
  • BROAD ‘FINANCIAL REMUNERATION’ EXCLUSION PRECLUDES COVERAGE UNDER PROFESSIONAL LIABILITY POLICY
  • COURTS CONSISTENTLY APPLY INSURED VS. INSURED EXCLUSIONS IN D&O POLICIES
  • SETTLEMENTS FOR HIPAA VIOLATIONS EXCLUDED AS ‘FINES AND PENALTIES’ UNDER CGL POLICY
  • FEE EXCLUSION IN D&O POLICY IS INAPPLICABLE

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