News & Analysis as of

D&O Insurance Insurance Industry Insurance Claims

Woodruff Sawyer

Guide to D&O Insurance for IPO and Direct Listing Companies, 2025 Edition

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Even though there was an uptick in IPO activity in 2024, many companies have taken a wait-and-see approach and deferred their public debuts to next year. Still, going public in 2025 will come with challenges, such as...more

Wiley Rein LLP

Delaware Federal Court Holds Contract Exclusion Bars Coverage for Claim Against Federal Grant Awardee for Disallowed Costs

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The United States District Court for the District of Delaware, applying Delaware law, has held that no coverage exists under a directors and officers liability policy for a claim arising from disallowed federal grant...more

Wiley Rein LLP

Antitrust Exclusion Applies to Claims for Unjust Enrichment and Violation of Consumer Protection Laws

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Applying California law, the United States District Court for the Eastern District of California has held that an antitrust exclusion in a D&O policy bars coverage for lawsuits alleging violation of antitrust laws, violation...more

Pillsbury - Policyholder Pulse blog

Hurricane Insurance Checklist

The below checklist includes essential considerations and steps to take for property owners and businesses that stand to be affected by hurricanes....more

Woodruff Sawyer

D&O Insurance Trends: Looking Ahead to 2025

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In this increasingly litigious and regulatory intense environment, D&O Looking Ahead provides a bridge to help you stay on top of the evolving D&O risk landscape.  – Priya Huskins The streak of good news in D&O litigation...more

Wiley Rein LLP

Connecticut Court Holds Restitutionary Settlement Not Insurable Loss

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The Superior Court of Connecticut, applying Connecticut law, granted an insurer’s motion for summary judgment, finding that a D&O policy did not afford coverage for a settlement that resulted in a consent judgment against the...more

Woodruff Sawyer

Looking Ahead to 2025: Navigating a Shifting D&O Insurance Landscape

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In a market known for volatility, public company D&O (directors & officers) insurance has certainly lived up to its reputation in recent years—pricing has been on a roller coaster, fluctuating between skyrocketing increases...more

Lowenstein Sandler LLP

Closing Coverage Gaps: California Court Emphasizes the Importance of Coordinated Insurance Policies in Complex Claims Environments

Policyholders must be vigilant in coordinating their insurance program across coverage lines in today’s complex claims environment. Often resembling a “patchwork quilt” – modern businesses protect against a wide range of...more

Davies Ward Phillips & Vineberg LLP

Better Late Than Never? Not So for Directors’ and Officers’ Liability Coverage

Directors and officers facing liability claims, including investigations and enforcement proceedings, must pay careful attention to the notice provisions of their directors’ and officers’ (D&O) liability coverage policies and...more

Kennedys

New Jersey Appellate Court enforces “capacity” exclusion in D&O policy as matter of first impression

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As a matter of first impression, on July 9, 2024, the Superior Court of New Jersey Appellate Division issued a published decision upholding and enforcing a “capacity” exclusion contained in a Directors and Officers Liability...more

Rivkin Radler LLP

July 2024 New York Insurance Coverage Law Update

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Paraco Gas Corporation purchased an insurance policy for Directors, Officers and Private Company Liability (“D&O”) from Ironshore Indemnity, Inc. that covered certain acts of Paraco’s officers and directors. Paraco...more

Woodruff Sawyer

Guide to Private Company D&O Insurance 2024

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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

The Essential Guide to D&O Insurance Placement for Foreign Filers Going Public on a US Exchange

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Woodruff Sawyer is a market leader when it comes to placing D&O insurance for companies going public through IPOs and direct listings. Experience matters for these types of transactions, and this is especially the case when...more

Rivkin Radler LLP

Insurance Update - April 2024

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Dominance was the theme of this year’s NCAA basketball tournament, with the UConn men’s team winning back-to-back championships and the South Carolina women’s team reclaiming the title with a perfect record. But let’s not...more

Wiley Rein LLP

Coverage for Shareholder Actions Not Barred by Prior Acts Exclusion

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The New York Supreme Court, Appellate Division, has held that a “prior acts” exclusion in a directors and officers policy did not bar coverage for settlements reached by the insured in two related shareholder lawsuits,...more

Cozen O'Connor

Claims Notes: March 2024

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After a yacht ran aground, the owner filed a maritime insurance claim. Despite a New York choice of law provision in the insurance policy, the owner contended that Pennsylvania law applied. The Third Circuit had protected the...more

Wiley Rein LLP

Insured Cannot Block Coverage For Settlement By Another Insured Based On Consent and Cooperation Provisions in D&O Policy

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The United States District Court for the Southern District of New York, applying New York law, has held that one Insured cannot use consent and cooperation provisions in a D&O insurance policy to block coverage for another...more

Wiley Rein LLP

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

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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

Wiley Rein LLP

California SPAC Entitled to Advancement of Subpoena-Related Costs Post-Name Change Based on “Potentially Covered” Standard

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The United States District Court for the Northern District of California, applying California law, has held that two former directors and officers were entitled to advancement of defense costs incurred in connection with SEC...more

Woodruff Sawyer

From Mars Back Down to Earth: Lessons from the Rescission of Elon Musk’s $55.8B Option Grant

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CEO compensation can be a source of concern for shareholders, which makes it a concern for the Delaware Chancery Court. Another major concern is director independence. The decision by the Delaware Chancery Court to void Elon...more

Kennedys

Macquarie says Second Circuit makes a mockery of Section 10(b)

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On January 16, 2024, the Supreme Court heard argument in Macquarie Infrastructure Corporation et al. v. Moab Partners LP et al., No. 22-1165. Macquarie presents an important issue for publicly traded companies and their D&O...more

Wiley Rein LLP

Third Circuit Holds that Insured Must Satisfy All Conditions Precedent in Excess Policy to Trigger Coverage

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The United States Court of Appeals for the Third Circuit, applying New Jersey law, has affirmed that an excess policy did not provide coverage when an insured could not satisfy an express condition precedent to coverage...more

Wiley Rein LLP

Insured v. Insured Exclusion Bars Coverage for Lawsuit Brought by Both Insureds and Non-Insureds

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The U.S. Court of Appeals for the Second Circuit, applying Kentucky law, has held that a D&O policy’s insured v. insured exclusion barred coverage for a lawsuit brought by a non-insured entity and other insured persons....more

Wiley Rein LLP

No Coverage for SEC Investigation of Insured Company

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The Superior Court of Delaware has held that collateral estoppel bars an insured company from relitigating whether, under a second excess follow-form D&O policy, an SEC letter and order (collectively the “SEC Matter”)...more

Wiley Rein LLP

Insurer Must Show that Reasonable Insured Would Have Concluded that Potential Claim Could Arise from Ongoing Investigation in...

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The United States District Court for the Eastern District of Pennsylvania, applying Pennsylvania law, denied an insurer’s motion for summary judgment on the grounds that a genuine dispute of material fact existed as to...more

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