Insight
2022 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.
- 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- SURGICAL CENTER’S PROFESSIONAL LIABILITY COVERAGE RESCINDED DUE TO MISREPRESENTATIONS ON RENEWAL APPLICATION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
- 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
- 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
- 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
- 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
- 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
- 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"
- 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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