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Insurance Industry › Policy Exclusions › Fiduciary Duty

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

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

Wiley Rein LLP

Warranty Letter Bars Coverage for Claim Against Chief Legal Officer Arising From CEO’s Alleged Fraud

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The United States District Court for the District of Nevada, applying Nevada law, has held that a warranty letter executed by the insured’s CEO prior to the issuance of an excess D&O policy barred coverage for a claim made...more

Nossaman LLP

Podcast: Getting the Most Out of Your Public Pension Plan Insurance Coverage

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All public pension plans need a well-crafted fiduciary liability insurance policy. This should include ample coverage, including protection against the risk of impending litigation. The recent ruling by the U.S. Court of...more

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