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New York Court Holds Insurer Can Recoup Defense Costs, Appealable Conviction of Former Bank CEO Is “Final” Adjudication of D&O Claim

USA - October 31 2022 A New York federal court recently held that an insurance company was entitled to recoup legal fees paid under a directors and officers liability…

Janine A. Hanrahan

D&O Insurer Must Cover Mortgage Broker’s $15 Million Settlement of Alleged False Claims Act Violations

USA - September 28 2022 A Delaware court recently granted summary judgment to a mortgage broker targeted in a federal government investigation for alleged False Claims Act…

Michael S. Levine, Matthew J. Revis

California Holds Stolen Cryptocurrency Does Not Qualify as “Physical” Loss Under Homeowners’ Policy

USA - August 25 2022 From IRS rulings that “virtual currency” is taxed as “property” to an SEC lawsuit claiming that digital assets are “securities” under federal law…

Yosef Itkin

Massachusetts High Court Holds Chapter 93A Fee Award Not Covered Under General Liability Policy

USA - July 19 2022 Massachusetts’ highest court ruled earlier this month that attorney’s fees awarded under the Commonwealth’s consumer protection statute are not…

Janine A. Hanrahan, Michael S. Levine

IRS Scrutinizes Legitimacy of Captive Insurance Arrangement

USA - July 7 2022 The IRS recently filed a petition to enforce summonses issued to investigate tax liability stemming from a business’s involvement in a captive…

Janine A. Hanrahan