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Securities and Exchange Commission (SEC) Policy Exclusions

Rivkin Radler LLP

June 2025 Insurance Update

Rivkin Radler LLP on

We’ve selected five recent insurance decisions for this month’s update. Foreign insurers will be pleased with the Second Circuit’s revamped view of the New York Convention. In finding that the international treaty is...more

Woodruff Sawyer

SEC Charges Board Member: D&O Insurance Implications

Woodruff Sawyer on

The Securities and Exchange Commission (SEC) has brought charges against independent directors who allegedly failed to take appropriate action when management was engaged in accounting fraud. These cases have been...more

Woodruff Sawyer

Guide to Private Company D&O Insurance 2024

Woodruff Sawyer on

8 Reasons to Buy D&O Insurance 1. Attracting New Directors: D&O insurance makes board seats more attractive. 2. Investor Requirements: Some venture capital and private equity firms require that their portfolio companies...more

Woodruff Sawyer

SEC Investigations and D&O Insurance Coverage

Woodruff Sawyer on

In my last post, I explained why a full-blown Securities and Exchange Commission (SEC) investigation often results in legal fees and expenses that run well into seven or eight figures. (Again, this is just for legal costs at...more

Wiley Rein LLP

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

Wiley Rein LLP on

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

Wiley Rein LLP

Court Declines to Dismiss Coverage Litigation Based on Potential Applicability of Prior Notice Exclusion

Wiley Rein LLP on

The United States District Court for the District of Delaware has held that, where the matters at issue in securities litigation and attendant claims plausibly did not “arise out of” the matters underlying a notice of...more

Hinshaw & Culbertson - Insights for Insurers

Part Seven: Reviewing Key U.S. Insurance Decisions, Trends, & Developments

This is the seventh and final installment of our series of articles reviewing some of the key trends and developments currently impacting the U.S. insurance industry. Some key decisions impacting the D&O and securities law...more

Patterson Belknap Webb & Tyler LLP

Court of Appeals Holds SEC Disgorgement Payment Does Not Constitute Excludable “Penalty” for Purposes of Insurance Coverage...

Recently, the New York Court of Appeals issued another ruling in a long-running insurance coverage dispute concerning $140 million in disgorgement paid by Bear Stearns pursuant to an SEC settlement over fifteen years ago. ...more

Cozen O'Connor

Global Insurance Perspectives on Climate Change

Cozen O'Connor on

Evolving climate change data presents an ominous trend that has the potential to upend historical assumptions of actuarial science. For example, in the last several years global risk markets have weathered historically...more

Pillsbury - Policyholder Pulse blog

Second Circuit Misinterprets D&O Policy Warranty Letter

When adding new or additional layers to an insurance program, policyholders are often asked to sign a “warranty letter” providing comfort to the prospective insurer that the policyholder is not aware of impending claims....more

Cooley LLP

Blog: US: Second Circuit Highlights Importance of Disclosures in Insurance Policy Warranty Statement

Cooley LLP on

The United States Court of Appeals for the Second Circuit recently issued a decision highlighting the significance of full disclosure in an insurance policy warranty statement and the critical importance of negotiating such...more

White and Williams LLP

ICO-Related Claims and Insurance Coverage: Questions You Should Be Asking

In this post, we provide a brief overview of initial coin offerings (ICOs), discuss certain recent enforcement actions involving ICOs and highlight potential coverage issues under management and professional liability...more

Carlton Fields

SDNY Rules SEC Investigation Is A “Claim” Within Pending And Prior Acts Exclusion

Carlton Fields on

The U.S. District Court for the Southern District of New York has held that a long-running investigation by the SEC constituted a “Claim” triggering the pending and prior claims exclusion in an excess directors and officers...more

Proskauer - The Capital Commitment

6 Questions PE Sponsors Must Ask About Their GPL Policies

Private equity fund sponsors are facing increased litigation risk from regulators and private parties, including limited partners and stakeholders in portfolio companies. As a result, private equity firms should re-examine...more

Mintz - Privacy & Cybersecurity Viewpoints

Cyber Risks for the Boardroom Part 2: Why Corporate Directors Should be Concerned About Data Security Breaches

All this week, we are featuring a series “Cyber Risks – Director Liability and Potential Gaps in D&O Coverage” Part 2 of 5: Why Directors Should Be Concerned...more

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