Specialty Lines Advisory



Receiver’s Claims Against Former Officers Not Barred by Insured v. Insured Exclusion

Earlier this month, the 9th U.S. Circuit Court of Appeals held that an Insured v. Insured Exclusion barred coverage for claims brought by the FDIC as receiver for a failed financial institution. Last week, Judge William E. Smith in the… Continue Reading →

Fallout From Home Depot Breach Continues to Cause Concern for Corporate Officers

Republished from Tressler’s Privacy Risk Report blog. High profile data breaches are inevitably followed by a flurry of lawsuits, including derivative lawsuits filed by those companies’ shareholders. However, derivative suits have not found success and are frequently dismissed at the… Continue Reading →

Court Tackles D&O Coverage Issues in Football Concussion Suit

As NFL and NCAA football players continue to file lawsuits against their former teams, leagues and conferences for alleged head injuries, there is no question that those teams, leagues and conferences will continue to turn to their insurers for coverage… Continue Reading →

Health Provider Cannot Create Coverage for Medicare Fraud Under Management Liability Policy

In Mission City Cmnty. Network, Inc. v. The Hanover Ins. Co. case no. 16-cv-2409 (C.D. Cal. October 14, 2016), the U.S. District Court for the Central District of California held that Hanover Insurance Company (Hanover) properly denied coverage to a… Continue Reading →

No Indemnity Coverage for Facebook IPO Claims Under D&O Policy

A professional services exclusion in a D&O policy barred indemnity coverage for securities lawsuits arising out of NASDAQ’s system failures on the day of Facebook’s initial public offering according to a New York federal judge in Beazley Ins. Co. v…. Continue Reading →

Shareholders’ Derivative Suit Misses Target, Still Offers Warning to Directors & Officers

Republished from Tressler’s Privacy Risk Report blog. On July 7, 2016, Judge Paul Magnuson of the United States District Court for the District of Minnesota granted several motions to dismiss by Target directors and officers seeking dismissal of derivative suits… Continue Reading →

Related Wrongful Acts Exclusion Precludes Additional $20 Million in Coverage

Twenty-eight separate matters fell under a single insurance policy because they all arose out of “Related Wrongful Acts” as defined by the policy. As a result, the insureds were not eligible for an additional $20 million in coverage. Previti v. Nat’l… Continue Reading →

Insured Failed to Provide Timely Notice Under Claims Made Policy

Judge Jesus G. Bernal found notice provisions in claims made policies were unambiguous and enforceable as a condition precedent to coverage. The Citrus Course Homeowners Ass’n v. Great Am. Ins. Co., No. 5:15-cv-02443-JGB (C.D. Cal. Jan. 7, 2016). Great American… Continue Reading →

Insured v. Insured Exclusion Applied to Preclude Coverage for Lawsuit Where Plaintiffs Included Both Insureds and Non-Insureds Under D&O Policy

Insured v. Insured exclusion applied to preclude coverage for an entire claim even where the underlying claim involved a lawsuit by an Insured Person and other plaintiffs who were not Insured Persons against other Insured Persons. Jerry’s Enterprises, Inc. v…. Continue Reading →

No Indemnification for Former Insured’s $40 Million Settlement Agreement

The U.S. Court of Appeals for the 11th Circuit determined that National Union Fire Insurance Company of Pittsburgh, PA (National Union) owed no duty to indemnify a $40 million settlement reached by its former insured in an underlying action. The… Continue Reading →

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