News & Analysis as of

Fiduciary Duty Insurance Industry

Skadden, Arps, Slate, Meagher & Flom LLP

UK Supreme Court Clarifies Rules on Fiduciaries, Bribery and Disclosure

Improper inducement or legitimate distribution fee? The UK Supreme Court’s landmark ruling clarifies the rules on intermediaries that are common to the supply chain of almost all financial services....more

Eversheds Sutherland (US) LLP

A Story of Innovation in Insurance – the Porch Reciprocal Exchange

Property insurers have faced significant headwinds in recent years due to the combination of severe weather events, inflation, volatility in reinsurance availability and pricing, regulatory uncertainty and technological...more

Proskauer - The Capital Commitment

Protecting Sponsors from Emerging Portfolio Company Risks through Insurance

In addition to the normal operational and legal risks associated with owning and managing portfolio companies, 2025 has introduced or exacerbated a wave of geopolitical and macroeconomic risks such as inflation, tariffs,...more

Skadden, Arps, Slate, Meagher & Flom LLP

A Deep Dive Into Intermediary Remuneration as the UK Supreme Court Considers Its Legality

Is payment to an intermediary, not by its client but by the financial service provider, an illegal inducement or a legitimate distribution cost? In Hopcraft, the UK Supreme Court will consider this perennial question. The...more

Wiley Rein LLP

Ninth Circuit Affirms Ruling That Section 533 Bars Coverage for Defense Costs and Indemnity When Claims Broadly Allege Willful...

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The United States Court of Appeals for the Ninth Circuit, applying California law, has affirmed a district court’s determination that California Insurance Code § 533 barred indemnity and defense costs coverage for a lawsuit...more

Proskauer - Employee Benefits & Executive...

Eleventh Circuit Confirms Foreign Tax Credits Owned by Insurance Company Not “Plan Assets” of 401(k) Plan Under ERISA

In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result...more

Pillsbury - Policyholder Pulse blog

Level Unlocked: Insurance Recovery Options for Video Game Manufacturers Facing Video Game Addiction Lawsuits

In the last few years, the video game industry has been hit with lawsuits accusing certain games of fostering addictive behaviors, especially among younger players. These lawsuits often cite features like loot boxes,...more

Lowenstein Sandler LLP

Broker Malpractice: How Policyholders Can Proactively Protect Themselves

Today, hosts Lynda A. Bennett and Eric Jesse discuss a recent decision that addresses broker malpractice – a common claim for policyholders to pursue after learning insurance protection is unavailable or insufficient to cover...more

Lowenstein Sandler LLP

Current State of Play with SPAC Litigation and Available Insurance Coverage

Lowenstein Sandler LLP on

Today, Lynda A. Bennett and Heather Weaver of Lowenstein’s Insurance Recovery Group sit down with Yelena Dunaevsky, Senior Vice President, Transactional Insurance, at Woodruff Sawyer to talk about the current state of SPAC...more

Stinson - Benefits Notes Blog

DOL Settlements Remind Employers to Avoid Collecting Premiums Until Evidence of Insurability is Approved

The U.S. Department of Labor (DOL) announced two settlements with major insurance companies this month that highlight the importance of employers avoiding the collection of group life insurance premiums from employees until...more

Saul Ewing LLP

The Friday Five: Five ERISA Litigation Highlights - June 2024

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This month’s Friday Five explores recent decisions with issues spanning physician power of attorney to preexisting exclusions and the fiduciary duty of an insurance company....more

Dinsmore & Shohl LLP

[Webinar] AI's Goldilocks Problem for Officers and Directors: Getting Risk Management "Just Right" - June 13th, 12:00 pm - 1:00 pm...

Dinsmore & Shohl LLP on

The transformative power of Artificial Intelligence (AI) presents unprecedented opportunities and challenges for businesses across various sectors. Corporate entities and their fiduciaries are navigating a complex landscape...more

Bricker Graydon LLP

Pension Risk Transfer Considerations and Recent Litigation - A Case of Imprudent “Passing the Buck” or Sound Risk Management?

Bricker Graydon LLP on

Over the last several years, numerous large pension plan sponsors have transferred billions of dollars in financial risk related to their pension plan benefit obligations to insurance companies through the purchase of group...more

Wiley Rein LLP

Bump-Up Provision Bars Coverage for Settlement of Post-Merger Claims by Shareholders of Target Company

Wiley Rein LLP on

On remand from the U.S. Court of Appeals for the Fourth Circuit, the U.S. District Court for the Eastern District of Virginia, applying Virginia law, has held that a bump-up provision in directors and officers liability...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Great Lakes Insurance SE v. Raiders Retreat Realty Co., LLC

On February 21, 2024, the U.S. Supreme Court decided Great Lakes Insurance SE v. Raiders Retreat Realty Co., LLC, No. 22-500. The Court held that choice-of-law provisions in maritime contracts are presumptively enforceable...more

Marshall Dennehey

Court Reiterated Prevailing Standard in Pennsylvania for Establishing Existence of ‘Special Relationship’ Between Insurance...

Marshall Dennehey on

Mohanan, et al. v. Liberty Mutual Personal Insurance Company, 2023 WL 8026106 (E.D. Pa. Nov. 20, 2023) - The court granted the defendant’s motion to dismiss to strike references to a “special relationship” owed to the...more

Adams & Reese

Operation Litigation: Top Tips if Your Business is Threatened with a Lawsuit

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We continue to provide legal resources for our military veterans returning to the workplace in our monthly “Vets to Ventures” series. Previously, we have discussed how skills acquired in the military translate into becoming a...more

McDermott Will & Schulte

Special Report - Funding Employer-Sponsored Group Health Coverage: The Group Captive Solution - November 2023

McDermott Will & Schulte on

Employer-sponsored health insurance covers almost 159 million non-elderly US workers and their dependents, and employees and jobseekers alike view group health coverage as the single most important non-cash job-related...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

Farella Braun + Martel LLP

Disputes Between Shareholders May Not Be Governed by Fiduciary Duties but Could Be Covered by Insurance

Disputes regarding ownership interests often arise in the context of closely held corporations, particularly when directors, officers, or majority shareholders sell or acquire ownership interests in the company. These...more

Wiley Rein LLP

Insurers Owe Coverage for Settlement Despite Bump-Up Provision

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Applying Delaware law, the Superior Court of the State of Delaware has held that a bump up provision did not bar coverage of a settlement that resolved claims asserting breaches of fiduciary duty. On December 4, 2019, the...more

Adams & Reese

Ask Not for Whom the Blue Bell Tolls

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Fifth Circuit Ruling Against Blue Bell’s Corporate Directors and Officers May Limit Availability of Insurance Coverage in Shareholder Derivative Actions - In a recent ruling, the United States Court of Appeals for the...more

Rivkin Radler LLP

Insurance Update - August 2023

Rivkin Radler LLP on

Mental state, in some form, is the common theme running through our first three cases this month. The Fifth Circuit decides whether directors and officers of an ice cream company, accused of breaching their fiduciary...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Competing Duties Of A Life Insurance Agent: The Potential For A Conflict Of Interest In The Sale Of Life Insurance Policies And...

The legal and regulatory scheme is set up in favor of life insurance companies to the detriment of the agents and customers. The imbalance of duties imposed upon a life insurance agent in the sale of life insurance policies...more

Pillsbury - Policyholder Pulse blog

U.S. Supreme Court to Decide Whether State’s Public Policy Interest Could Sink Insurance Policy’s Choice-of-Law Provision

The rare insurance dispute has appeared on the horizon for the nation’s highest court. Last month, the U.S. Supreme Court granted certiorari and agreed to take up the case of Great Lakes Insurance SE v. Raiders Retreat Realty...more

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