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Insurance Industry › Defense Costs › D&O Insurance

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

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

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

Second Circuit Affirms Ruling That Excess D&O Insurer Is Not Required to Advance Defense Costs

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The U.S. Court of Appeals for the Second Circuit, applying New York law, held that a former director is not entitled to injunctive relief requiring an excess D&O insurer to pay his defense costs because the director has not...more

Womble Bond Dickinson

Sam Bankman-Fried Case Provides Lessons on Fraud and D&O Insurance

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Sam Bankman-Fried’s criminal trial started this week; and on the same day, he sued one of his director & officer insurers. And a lot of people are asking, why? Is the timing a coincidence or on purpose? Shouldn’t he be...more

Wiley Rein LLP

Delaware Law Applies to Coverage Dispute over Stockholder Appraisal Action

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The Delaware Supreme Court has held that Delaware law, rather than Montana law, applies in a dispute over D&O coverage for defense costs incurred in a stockholder appraisal action. Stillwater Mining Co. v. Nat’l Union Fire...more

Wiley Rein LLP

Delaware Federal Court: No Coverage Under D&O Policy For Claims Based On Acts Alleged To Have Occurred Prior To Insured Entity’s...

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Applying Delaware Law, the United States District Court for the District of Delaware has held that there is no coverage for acts undertaken by an insured’s directors and officers that occurred prior to the formation of the...more

Wiley Rein LLP

Policy Requires Allocation of Defense Costs Based Upon Parties’ Relative Legal Exposure

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The United States District Court for the Central District of Illinois has held that an insurance policy requires allocation of defense costs based on the parties’ relative legal exposure if it clearly and unequivocally...more

Farella Braun + Martel LLP

In Verizon Decision Careful Review of Insurance Policies Expands Coverage

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In Verizon Communications Inc. v. National Union Fire Insurance Co. of Pittsburgh, Pa. the Delaware Superior Court ruled that Verizon was entitled to a defense under its D&O policy for fraudulent transfer claims. Although the...more

Pillsbury - Policyholder Pulse blog

Allocation Clauses in D&O and E&O Policies – Traps for the Unwary

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Some of the biggest pitfalls for policyholders lie camouflaged among seemingly “standard” policy conditions—often overlooked during the procurement or renewal process. This is especially true of allocation clauses, found most...more

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