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Insurance Industry › Policy Terms › Defense Costs

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

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

Wiley Rein LLP

SEC Investigation of Company Not a “Claim” or “Securities Claim”

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Applying New York law, the United States District Court for the Southern District of New York has held that an SEC investigation of the insured company did not constitute a “Securities Claim,” where the term expressly...more

Wiley Rein LLP

Insured Failed to Timely Report Grievance Letter as ‘Professional Claim,’ But Insurer’s Late Notice Denial Waived By Seven-Month...

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The United States District Court for the Southern District of New York, applying New York law, has concluded that, even though a grievance letter to an insured constituted a “Professional Claim” that was not timely reported,...more

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