Specialty Lines Advisory



DOJ Investigation Does Not Fall Squarely Within a Regulatory Claims Coverage Sublimit, So the Sublimit Does Not Apply

Coverage for a Department of Justice (DOJ) investigation was not subject to a D&O policy’s regulatory claims coverage sublimit, and the insurer could not show that the DOJ investigation was sufficiently related to prior claims to bar coverage. Millennium Laboratories,… Continue Reading →

Related Claims Provision Precludes Coverage for Five Securities Lawsuits

Because five lawsuits filed during the coverage period of certain D&O policies related back to a lawsuit filed before the inception of the policies, the five lawsuits were barred from coverage pursuant to the policies’ Related Claims provision. Nomura Holding… Continue Reading →

Insurer With No Coverage Obligation Can Recover $5 Million Settlement Payment and Prejudgment Interest from Insurer on the Risk

Genesis Insurance Company had no duty to provide coverage because the insured’s “notice of circumstances” was insufficient and coverage was triggered under a later policy year. Accordingly, Genesis could recover its $5 million settlement payment from the subsequent insurer under… Continue Reading →

Insured vs. Insured Exclusion Precludes Coverage for FDIC Receiver’s Failed Bank Claims

In a decision applying Kansas law, the U.S. Court of Appeals for the 10th Circuit found a D&O policy’s “Insured vs. Insured” exclusion to be unambiguous, precluding coverage for claims brought by the FDIC in its capacity as receiver of… Continue Reading →

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