Insight
2023 Financial Lines Executive Liability NewsletterĚý
By Alliant
Navigating today’s complex risk environment can be a monumental task. Steve Shappell, Alliant Claims & Legal, spearheads Executive Liability Insights, a monthly review of news, legal developments and information on executive liability, cyber risk, employment practices liability, class action trends and more.
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Alliant note and disclaimer: This document is designed to provide general information and guidance. Please note that prior to implementation your legal counsel should review all details or policy information. 91Ď㽶 does not provide legal advice or legal opinions. If a legal opinion is needed, please seek the services of your own legal advisor or ask 91Ď㽶 for a referral. This document is provided on an “as is” basis without any warranty of any kind. 91Ď㽶 disclaims any liability for any loss or damage from reliance on this document.
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- ILLINOIS SUPREME COURT RULES HEALTHCARE EXEMPTION TO BIPA APPLIES TO HEALTH CARE WORKERS
- ANALYZING CARVE BACKS TO THE INSURED V. INSURED EXCLUSION
- PERSONAL JURISDICTION: HOW PERSONAL DO COURTS NEED TO GET TO HAVE THE POWER OVER WEB-BASED BUSINESS?
- 2ND CIRCUIT CLARIFIES ERISA'S PROHIBITED TRANSACTION PLEADING REQUIREMENTS
- ALL INSURANCE BROKERS WANT FOR CHRISTMAS IS TO REPORT CLAIMS MADE WITHIN THE POLICY PERIOD TIMELY
- WARRANTY EXCLUSION BARS EXCESS D&O COVERAGE
- CARRIER TAKES RARE STEP OF INTERPLEADER: COURT ORDERS EQUITABLE PRO RATA DISTRIBUTION FOR PURPORTED "COMPETING CLAIMS"
- HIGH PROFILE SECURITIES CLASS ACTION DATA PRIVACY LAWSUIT RESURRECTED
- ARE YOUR CLAIMS "LOGICALLY CONNECTED"? IF SO, THEY MIGHT BE INTERRELATED AND SUBJECT TO A SINGLE LIMIT
- EXERCISE OF IMPLICIT CONTROL AND MISUSE OF AUTHORITY CONSTITUTES TAKING UNDER CRIME POLICIES
- RECISSION OF E&O POLICY BASED ON MISREPRESENTATIONS IN AN APPLICATION
- AN INSURANCE PROVIDER SUES ITS OWN INSURERS OVER THE UNDERWRITING EXCLUSION AND WINS ON THAT PORTION
- DELAWARE SUPREME COURT CONFIRMS THAT BROAD EXCLUSIONS IN D&O POLICY DO NOT PRECLUDE COVERAGE FOR FALSE CLAIMS ACT SETTLEMENT
- CALIFORNIA'S SECTION 533 USED TO BAR COVERAGE
- A MEANINGFUL BENCHMARK IS REQUIRED FOR PLAN PARTICIPANTS TO SURVIVE A MOTION TO DISMISS WITH BRINING AN ERISA VIOLATION
- COOPERATION AND CONSENT ARE PARAMOUNT TO RECEIVING COVERAGE
- INSURERS OWE COSTS REASONABLY RELATED TO DEFENSE
- THE SEC UNVEILS NEW RULES REGULATING PRIVATE FUND ADVISORS
- YOU ARE NOT "HARMED ENOUGH" TO SUE, SAYS FEDERAL COURT
- DEFAMATION ALLEGATIONS FALL UNDER THE DEFINITION OF PERSONAL INJURY AND TRIGGER COVERAGE AND THE DUTY TO DEFEND
- APPELLATE COURT AFFIRMS LATE NOTICE PRECLUDES COVERAGE FOR UNIVERSITY IN AFFIRMATIVE-ACTION LITIGATION
- ERISA PREEMPTION - RECENT DECISION LIMITS STATE'S AUTHORITY TO REGULATE PHARMACY MANAGERS
- PARTIAL VICTORY FOR POLICYHOLDER; BUMP-UP EXCLUSION REMAINS A BIG HURDLE TO INSURANCE RECOVERY
- SEVENTH CIRCUIT GRAINTS PARTIAL DISMISSAL OF BIPA ACTION AGAINST TECHNOLOGY COMPANY
- CGL POLICY DOES NOT PROVIDE COVERAGE FOR DERIVATIVE
- NEW SEC CYBERSECURITY DISCLOSURE GUIDELINES—ARE THEY PROBLEMATIC FOR D&O POLICIES?
- INSURER CANNOT USE BROAD AND AMBIGUOUS “CATCH-ALL” EXCLUSION TO DENY COVERAGE FOR BIPA CLAIMS
- COMMON SENSE PREVAILS BY FIFTH CIRCUIT DETERMINATION THAT BREACH OF FIDUCIARY DUTY CLAIM WAS NOT TIED TO CONTRACTUAL LIABILITY EXCLUSION
- A FEDERAL COURT AGREES WITH AN INSURED’S BROAD INTERPRETATION OF A SECURITIES CLAIM
- NO INQUIRY, NO CLAIM, NO RELATION BACK FOR D&O POLICY
- PRIORITY OF PAYMENTS PROVISION IN D&O INSURANCE POLICY SUPPORTS ADVANCEMENT OF FUNDS, LEADS TO AUTOMATIC STAY BEING LIFTED
- UPDATE: FORUM SELECTION PROVISIONS RECEIVE STAMP OF APPROVAL FROM 9TH CIRCUIT
- COULD A SIMPLE E-MAIL CONSTITUTE A CLAIM AND REQUIRE A NOTICE TO THE CARRIER? YES, DEPENDING ON ITS PURPOSE!
- THIRD PARTY LIABILITY IN RANSOMWARE CLAIMS – SIZE MATTERS
- THE INTERPLAY OF RESCISSION AND SEVERABILITY
- CHANGE OF CONTROL PROVISION SERVES TO EXCLUDE COVERAGE FOR SPAC
- FORMER OFFICER NOT ENTITLED TO COVERAGE FOR BREACH OF FIDUCIARY DUTY CLAIM; CARRIERS RELY ON INSURED V. INSURED AND PRIOR ACTS/PRIOR KNOWLEDGE EXCLUSIONS:
- FOURTH CIRCUIT HOLDS THAT BUMP-UP EXCLUSION BARS COVERAGE UNDER D&O POLICY FOLLOWING A MERGER
- DELAWARE CHANCERY GRANTS PLAINTIFF PARTIAL WIN, HOLDING THAT PRIOR NOTICE EXCLUSION DOES NOT APPLY TO PRECLUDE COVERAGE
- PREJUDICE IS REQUIRED FOR AN INSURER TO DENY COVERAGE FOR TARDY NOTICE UNDER A CLAIMS-MADE POLICY
- FAILURE TO DISCLOSE PRIOR ACTS? COVERAGE PRECLUDED BY APPLICATION EXCLUSION!
- PUBLIC POLICY DOES NOT PRECLUDE COVERAGE FOR ANTI-KICKBACK AND FALSE CLAIMS VIOLATIONS
- INSURER WEAPONIZES SECTION 533 IN DENIAL OF COVERAGE FOR A WILFUL ACT DESPITE FINAL ADJUDICATION LANGUAGE IN THE POLICY
- INTENTIONAL ACTS, BARS COVERAGE UNDER AN OCCURRENCE BASED POLICY
- COURT REJECTS INSURER'S MOTION TO DISMISS SUIT SEEKING CRIME COVERAGE FOR $213,000 CRIME LOSS ON DEFINITION OF "OWNERSHIP" OF LOST FUNDS
- CLAIM THAT PREDATES POLICY INCEPTION IS DENIED COVERAGE
- EXCLUSIONS THAT REDUCE COVERAGE WITHOUT NOTICE IS PRECLUDED FOR A SINGLE POLICY, NOT FOR SUBSEQUENT POLICIES
- MEANING OF OTHER INSURANCE DEPENDS ON SUBTLE BUT MEANINGFUL DISTINCTION
- ILLINOIS SUPREME COURT HOLDS THAT UNION EMPLOYEES CANNOT SUE FOR BIPA VIOLATIONS OUTSIDE OF COLLECTIVE BARGAINING AGREEMENT
- SOCIAL MEDIA GAINT'S DERIVATIVE SUIT DISMISSED; VICE CHANCELLOR CRITICAL OF PLAINTIFFS' LACK OF FACTUAL SUPPORT FOR THEIR ALLEGATIONS OF COMPETITIVE BULLYING
- ANTITRUST COVERAGE OF D&O POLICY LIMITED BY PROFESSIONAL SERVICES EXCLUSION
- MCDONALD'S 2.0: COURT HOLDS THAT A BOARD OF DIRECTORS CANNOT BE LIABLE FOR A BREACH OF THE DUTY OF OVERSIGHT
- ILLINOIS COURT ALLOWS RESCISSION CLAIM IN COVERAGE ACTION TO MOVE FORWARD
- ERISA EXCESSIVE FEE CLASS ACTION CASE DISMISSED
- FEDERAL COURT ALLOWS RECISSION AGAINST INSURANCE COMPANY
- A SPAC RUNOFF POLICY COVERS DEFENSE COSTS OF TARGET COMPANY'S FORMER DIRECTORS & OFFICERS
- NON-PROFIT ALLEGES OIL COMPANY HAS DUTY TO MANAGE CLIMATE CHANGE RISKS
- FEDERAL APPELLATE COURT SUPPORTS COVERAGE IN A FUNDS TRANSFER FRAUD CASE
- NO COVERAGE UNDER D&O RENEWAL POLICY FOR "RELATED" BANKRUPTCY TRUSTEE CLAIMS
- VALIDATING BILLION OVERISSUED SHARES FOLLOWING DE-SPAC MERGER WAS EQUITABLE, SAID DELAWARE COURT
- SHOULD EMPLOYERS PAY OVERTIME COMPENSATION TO EMPLOYEES EARNING SIX FIGURES SALARIES? WHY NOT, SAYS THE SUPREME COURT
- COURT RULES THAT AN INSOLVENCY EXCLUSION PROVIDES A COMPLETE BAR TO COVERAGE
- DELAWARE COURT OF CHANCERY RULES THAT OFFICERS HAVE DUTY OF OVERSIGHT WITH RESPECT TO SEXUAL MISCONDUCT CASE, CALIFORNIA COURT ADDRESSES SIMILAR ISSUE
- BUMP-UP EXCLUSION PRECLUDES COVERAGE FOR MERGER LITIGATION SETTLEMENT
- 2022 TRENDS IN SECURITIES CLASS ACTION LITIGATION
- DELAWARE INCREASES SCRUTINY OF SPAC DISCLOSURES
- A JOINT VENTURE MEMBER SHOULD BE ABLE TO PRESENT ANY INFORMATION TO THE APPRAISER
- CONSTRUCTIVE NOTICE NOT SUFFICIENT IN THE CLAIMS MADE AND REPORTED WORLD
- FAILURE TO COMPLY WITH NOTICE REQUIREMENT COSTS BANK EXCESS COVERAGE
- CONTRADICTORY COMPLAINTS LEADS TO DISMISSAL ON ALL ALLEGATIONS
- IN A COMPETING CLAIMS SCENARIO, INTERPLEADER IS APPROPRIATE
- A PROVISION FOR TREATMENT OF RELATED CLAIMS SAVES A RELATED CLAIM EXCLUSION FROM DENYING COVERAGE
- APPRAISAL ACTION IS NOT A SECURITIES CLAIM UNDER DELAWARE LAW
- ILLINOIS COURTS CONTINUE TO FIND POTENTIAL BIPA COVERAGE UNDER GENERAL LIABILITY POLICIES
- BACK TO BASICS: AMBIGUITIES ARE TO BE CONSTRUED IN FAVOR OF THE INSURED AND AGAINST THE INSURER
- INSURANCE COMPANY DELAY IN ACTING TO RESCIND INSURANCE POLICY WAIVES RESCISSION
- SIGNIFICANT DECISIONS TO WATCH IN 2023: WILL FORUM SELECTION PROVISIONS SURVIVE?
- INSURED V. INSURED EXCLUSION PRECLUDES COVERAGE WHEN ASSISTANCE PROVISION CARVE-BACK NOT TRIGGERED
- INSURANCE BUYERS BEWARE: CRUCIAL EXCLUSIONS WOVEN INTO THE DEFINITION OF LOSS
- BOILERPLATE RESERVATION OF RIGHTS LETTER PRECLUDES CARRIER FROM INVOKING COVERAGE DEFENSES
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