Coverage & Claims

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On June 21, 2007, the Supreme Court issued a significant decision for securities litigators and D&O insurers that eliminated a circuit split over the interpretation of a key pleading requirement of the Private Securities Litigation Reform Act (the “PSLRA”). 

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Read More The Supreme Court Defines the PSLRA’s “Strong Inference” Standard

The first criminal trial  arising out of the stock options backdating scandals, involving Brocade Communications Systems, Inc.’s former CEO, Gregory Reyes, began on Monday, June 18, 2007 in the United States District Court for the Northern District of California.  Reyes is accused of intentionally falsifying board meeting minutes and disseminating false financial statements in order to conceal the backdating of stock options. 

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Read More The Brocade Criminal Trial: Former Employee Testimony Damaging to Reyes

Florida’s First District Court of Appeal recently decided that, when determining whether the structure is a “total loss” under Florida’s former Valued Policy Law (“VPL”), a court could consider whether the cost of repairing the building would exceed its value. 

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Read More Florida’s Valued Policy Law – When Determining Whether Building is “Total Loss,” Court May Consider Whether Cost of Repair Exceeds Value

A Florida appellate court recently swam against a tide of decisions that have eroded the attorney-client privilege in bad faith litigation. 

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Read More Florida Appellate Court Holds That Injured Party Suing Tortfeasor’s Insurer for Bad Faith is Not Entitled to Privileged Communications Between Insured, Insurer, and their Joint or Separate Counsel

On May 30, the U.S Court of Appeals for the First Circuit held that an insured’s broad allegations of pollution over a course of decades are enough to trigger a liability insurer’s duty to defend environmental contamination lawsuits. 

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Read More First Circuit Finds Flexibility in “Sudden and Accidental” Pollution Exception

A Massachusetts Appeals Court recently issued an opinion that highlights the importance of policy provisions and renewal application questions requiring insureds to update the insurer concerning changes in circumstances. 

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Read More Insured Is Under No Duty To Notify Insurer of Material Changes In Coverage Risk