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Wiley Rein LLP

Third Circuit: Changes in Exposure Provision Bars Coverage for Pre-Merger Liabilities

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In a win for Wiley’s client, the United States Court of Appeals for the Third Circuit, applying Pennsylvania law, affirmed judgment on the pleadings in favor of a group of insurers on the ground that a Changes in Exposure...more

Foley Hoag LLP

The SVB Bankruptcy Decision and Its Lessons for D&O Insurance Programs

Foley Hoag LLP on

Directors and Officers (D&O) policies are intended first and foremost to protect a company’s individual directors and officers from significant claims which may be asserted against those individuals in their capacities as...more

Hinshaw & Culbertson LLP

Court Rejects Coverage for Phishing Loss Under Financial Institutions Bond, Calls for More Briefing on Computer Systems Fraud...

Hinshaw & Culbertson LLP on

A New Jersey federal district court held last week that losses arising out of a phishing scam were not covered under a bank's Financial Institutions Bond. In Crown Bank JJR Holding Co. v. Great Am. Ins. Co., 2020 U.S. Dist....more

Cooley LLP

Blog: Mortgagee Bank Scuttled

Cooley LLP on

It is rare for insurers to succeed in refusing to pay out because the insured ship was scuttled. The burden of proof on the insurers is high and the evidence may be at the bottom of the sea. The “BRILLANTE VIRTUOSO” ((1) Suez...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 22, 2019

Carlton Fields on

Real Property Update - Foreclosure / Paragraph 22: bank failed to introduce sufficient evidence to prove default letter was sent to borrower pursuant to paragraph 22 of the mortgage where bank's witness never testified that...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - November 2018

Skadden, Arps, Slate, Meagher & Flom LLP on

In this month's edition of our Privacy & Cybersecurity Update, we examine a declaration on ethical considerations for artificial intelligence, the annual joint review of the Privacy Shield, a new lawsuit from a snack food...more

Cozen O'Connor

Claim For Fraudulent Wire Transfer Under Commercial Crime Policy Found to be Covered, Although Denial Not In Bad Faith

Cozen O'Connor on

Principle Solutions Group, LLC, an information technology company, lost $1.717 million when it became the victim of a fraud scheme for which it sought coverage under the terms of a commercial crime policy issued by Ironshore...more

King & Spalding

Avoid the “Insolvency Exclusion” Trap in E&O Policies: Tennessee Federal Court Confirms That Insolvency Exclusion Does Not Apply...

King & Spalding on

As the wave of litigation spawned by the 2008 financial crisis begins to ebb, insurance-coverage litigation arising out of the credit crisis continues unabated. Financial institutions have successfully pursued insurance...more

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