News & Analysis as of

D&O Insurance Settlement Insurance Industry

McCarter & English, LLP

Delaware Court Holds Settlement of Underlying Securities Litigation Is Covered Under D&O Policy, Rejecting Insurers’ Assertion of...

A Delaware court recently found for the policyholders in determining that a directors and officers (D&O) liability policy covered the settlement of an underlying action alleging violations of the Securities Exchange Act of...more

A&O Shearman

Delaware Superior Court Holds That Bump-Up Exclusion In D&O Insurance Does Not Apply To Securities Claims Arising Out Of An M&A...

A&O Shearman on

On January 3, 2025, Judge Paul R. Wallace of the Superior Court for the State of Delaware granted plaintiff’s motion for summary judgment in a directors and officers (“D&O”) insurance denial case against. Harman Int’l Indus....more

White and Williams LLP

Top Developments March 2024

White and Williams LLP on

Delaware Supreme Court concludes that a letter from a lawyer informing an insured of possible lawsuits without identifying potential plaintiffs or demanding payment is not a “claim for damages” within the meaning of...more

Pillsbury - Policyholder Pulse blog

Say What You Mean: Delaware Court Finds Bump-Up Exclusion Ambiguous as Applied to Mergers Versus Acquisitions

Long a feature of directors’ and officers’ (D&O) liability insurance policies, the so-called “Bump-Up” Exclusion has gotten significant attention over the last few years. Because of the recent escalation in securities...more

Hinshaw & Culbertson - Insights for Insurers

Insurers Face Large PFAS-Related Losses: A Primer on Forever Chemical Regulation, Liabilities, and Insurance Coverage Issues

Per and polyfluoroalkyl substances (PFAS) represent major exposures to insurers and their policyholders. Thousands of lawsuits are pending nationwide and several large settlements have already been reached. Insurers are...more

Pillsbury - Policyholder Pulse blog

Insurability Update: New York High Court Affirms Coverage for Settlement Amount Labeled “Disgorgement”

Last month, we discussed a decision by the Northern District of Illinois finding an amount labeled “restitution” in a settlement between a pharmaceutical company and the DOJ was insurable loss under a D&O policy. Shortly...more

Pillsbury - Policyholder Pulse blog

In Another Blow to the “Uninsurability” Defense, Court Holds that Settlement Labeled “Restitution” Is Insurable

In previous posts, we have emphasized the continued judicial trend rejecting insurer arguments that losses purportedly sounding in restitution or disgorgement are “uninsurable” under D&O policies. Despite that trend, insurers...more

Carlton Fields

Arizona Supreme Court Finds That Reasonableness of Insurer’s Refusal to Consent to Settlement Under D&O Policy Is in the Eye of...

Carlton Fields on

In Apollo Education Group Inc. v. National Union Fire Insurance Company of Pittsburgh, the Arizona Supreme Court found that the reasonableness of the insurer’s decision to refuse to consent to settlement under a directors and...more

Wiley Rein LLP

Where Policy Contains no Duty to Defend, Reasonableness of Insurer’s Decision to Withhold Consent to Settlement Judged from...

Wiley Rein LLP on

In answering a certified question from the Ninth Circuit, the Arizona Supreme Court has held that, where the policy contains no duty to defend, the objective reasonableness of an insurer’s decision to withhold consent to...more

Orrick, Herrington & Sutcliffe LLP

Policy Observer - July 2013

Getting Over the Bar: Second Circuit Requires Actual Payment of Underlying Limits In Order to Trigger Excess D&O Policies - In June, the Second Circuit held that two Federal Insurance Company ("FIC") excess D&O...more

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