Under the cloud of the tragic terrorist attack in France, the U.S. Congress passed H.R. 26, an extension to the Terrorism Risk Insurance Act (TRIA). The House passed it overwhelmingly by a vote of 416-5. The Senate passed it by a vote of 93-4. This despite a rider which amends Dodd-Frank.
Representing people who have lost homes and businesses following Sandy has been gut-wrenching. And, I have to say, many of the carriers haven’t made it any easier.
The District Court of Massachusetts’ January 6, 2015 opinion in Biochemics, Inc. v. Axis Reinsurance Co., 2015 WL 71493 (D. Mass. Jan. 6, 2015), reaffirms the importance of providing timely notice of all D&O liability claims – including subpoenas.
D&O Insurance: No Coverage for Enforcement Action Because Claim First Made When SEC Subpoena Served Before Policy Inception
A recurring D&O insurance coverage issue involves the question of whether or not a subpoena constitutes a claim, as I have noted on prior posts (for example, here).
Wisconsin Supreme Court’s Misapplication of the Pollution Exclusion and Disregard for Policyholders’ Business and Purpose in Purchasing Insurance
Last week, the Wisconsin Supreme Court issued two opinions in which it held that pollution exclusions barred coverage for third-party claims resulting from alleged contamination of water due to the seepage of cow manure and septage, respectively.
Congress’ failure to renew the Terrorism Risk Insurance Program Reauthorization Act (“TRIPRA”), a 2007 extension of the 2002 Terrorism Risk Insurance Act, could have significant implications for companies that rely upon property or casualty policies to manage risk.
The year just ended was an eventful one in the world of directors’ and officers’ liability. Many of the year’s key events represented significant changes in the D&O liability environment.
In Margulis v. BCS Insurance Co., 2014 IL App (1st) 140286, the Illinois Appellate Court affirmed a circuit court’s grant of summary judgment in favor of BCS Insurance Company (BCS), finding that it was not obligated to defend or indemnify its insured, Bradford & Associates (Bradford), under an insurance agents and brokers professional liability policy.