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A recent decision by a New York trial court highlights the impact corporate structure has on the scope and availability of directors and officers (D&O) insurance. The Commercial Division of New York’s Supreme Court applied an insured capacity exclusion to preclude D&O coverage for American Realty Capital Properties and related entities (AR Capital) and their directors and officers. The opinion, issued on February 2, 2021, highlights the importance of confirming that alleged wrongful conduct was undertaken in an insured capacity for D&O coverage.
Pitfalls of underwriting non-US issuers: unsponsored ADRs and other considerations in light of Toshiba
An important consideration for directors and officers (D&O) liability insurers in the underwriting of non-US issuers is an assessment of the risk that such issuers could someday be held liable under the United States’ federal securities laws.
For several years now, D&O insurers and their policyholders have sparred over the potential for coverage of statutory appraisal actions under Section 262 of Delaware’s General Corporation Laws, or similar statutory appraisal rights in other jurisdictions.
Case review 06/03/2019
Last month, a California federal judge found that no coverage was available to the operator of a medical health facility in California for the defense and settlement of a False Claims Act lawsuit or the costs of responding to a related Department of Justice investigation because of PAMC’s failure to submit the matters in accordance with the relevant policy’s reporting obligations.
It does not matter where you work or what you do, the recent spotlight on gender equality is having an impact on all businesses, regardless of size, nature or geographical location.
Climate change poses a significant exposure for insurers. In addition to the obvious direct claims arising from climate change, insurers face further exposure from litigation arising from the impact of climate change.
We are pleased to announce that John Blancett, Sedgwick New York’s former Managing Partner, has joined as a partner and will be based in our New York office. He will be joined by two partners and three associates.