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Article 07/13/2021
On May 11, 2021, in Global Fitness Holdings, LLC v. Navigators Management Co., Inc., the United States Court of Appeals for the Sixth Circuit upheld a broad-form contractual liability exclusion in a D&O policy. As discussed in this article, the decision is important for several reasons, including: (1) it reaffirms the principle that broad-form contractual liability exclusions apply to the entire “Claim,” even when the “Claim” includes tort-based causes of action; and (2) it extends the “but for” test for applying the carveback to the contractual liability exclusion for liability “in the absence of such contract or agreement.”
News 07/12/2021
Kennedys continues to deepen its bench of offerings with the addition of partner Judith A Selby to its New York office.
Article 07/01/2021
A summary of ESG developments, including two perspectives of the impacts of Milieudefensie et al v Royal Dutch Shell plc [26.05.21] on financial institutions and insurers – one from the UK and one from the USA; the latest update on sustainability reporting; and the Department for Business, Energy and Industrial Strategy proposals to strengthen the UK’s framework for corporate governance.
Article 06/30/2021
The US Supreme Court is trying its best to sidestep any material rulings on climate change decisions in view of its recent BP P.L.C. et al. v. Mayor and City Council of Baltimore decision and its refusal to review the Chevron Corp. v. City of Oakland, California case, wherein the Ninth Circuit held that climate change cases against large oil companies belong in state court.
Article 06/30/2021
In this briefing, we consider the latest significant court decisions impacting claims arising from professional liability and financial lines policies and products. Issues covered include: limitation and accrual of action, strike out applications, avoidance and non-disclosure (of material facts), SIPP advice from unregulated introducers and fraudulent and wrongful trading of directors.
News 06/21/2021
Kennedys has continued its growth in the Middle East with the opening of a new office in Muscat, in the Sultanate of Oman. This office opening is in response to client demand for a presence in Oman, and sees Kennedys become the only international insurance-focused law firm in the country.
Article 06/10/2021
On March 3, 2021, the Delaware Supreme Court announced in RSUI Indemnity Co. v. Dole Food Company, Inc., et al., 248 A.3d 887 (Del. 2021) (“Dole”), that Delaware public policy permits indemnity insurance coverage for liability arising from fraud. Therefore, in Delaware, unscrupulous executives found to have lied to investors may potentially avoid direct responsibility for any damages caused and simply pass the buck for any judgment or settlement to the company’s Director’s & Officer’s (“D&O”) insurer.
Article 06/08/2021
The recent decision by a Dutch court against Shell (Milieudefensie et al. v Royal Dutch Shell plc) has expanded climate litigation into the protection of fundamental rights and the imposition of positive duties on companies in respect of their future actions.
Article 05/28/2021
As of May 26, 2021, the estimated market capitalization of the cryptocurrency market exceeded USD 1.7 trillion despite recent market fluctuations. There is growing interest by a wide range of publicly traded companies in incorporating crypto into their business models given the ongoing market development.
Article 05/26/2021
The global challenge to transition to a carbon neutral economy increasingly dictates that climate conservation becomes an integral part of decision making in the private and public sector. The Climate Change Act (2050 Target Amendment) Order 2019 has legislated the UK target to reduce greenhouse gas emissions by 100% by 2050.
