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Federal Reserve Warns of D&O Policy Exclusion Concerns

USA - August 28 2019 In a new letter to all financial institutions supervised by the Board of Governors of the Federal Reserve System, the Federal Reserve cautioned…

Craig D. Miller, Agata S. Troy.

Validity of "No Voluntary Payments" Provisions Upheld in Colorado

USA - May 12 2016 In a blow to policyholders, the Colorado Supreme Court determined that an insured could not be indemnified for a settlement agreement reached without…

Christine Spinella Davis, Stephen T. Raptis, Robert H. Shulman, Susan P. White.

Court Orders Coverage Where Breach Merely Alleged

USA - May 12 2016 Narrowly interpreting a policy's breach of contract exclusion, a federal court judge in California ruled that the exclusion applied only to actual…

Christine Spinella Davis, Stephen T. Raptis, Robert H. Shulman, Susan P. White.

AG's Letter a Prior "Demand," Eliminates Exec's Defense

USA - May 12 2016 A letter stating that a government entity "may" bring an enforcement action against the policyholder if it did not "voluntarily" cease specified…

Christine Spinella Davis, Stephen T. Raptis, Robert H. Shulman, Susan P. White.

Fourth Circuit Refuses to Rescind Policy for Innocent Co-Insureds

USA - March 18 2016 What happens when innocent co-insureds seek coverage for a lawsuit based on fraudulent misrepresentations made by another co-insured? In the Fourth…

Christine Spinella Davis, Stephen T. Raptis, Robert H. Shulman, Susan P. White.