Coverage & Claims

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The Law Society of England and Wales and the Solicitors Regulation Authority (SRA) have been granted leave by the High Court to intervene in the case of Godiva Mortgage Limited v Travelers Insurance in which Travelers is arguing that it is entitled to cap cover by aggregating claims made against its insured, Willmett Solicitors, a Berkshire firm now in liquidation. …
Read More UK: Law Society and Solicitors Regulation Authority Join Forces to Intervene in a Landmark Professional Indemnity Insurance Case

In the case of Standard Life Assurance Ltd v ACE European Ltd & 10 ORS [2012] EWHC 104 (Comm), Mr Justice Eder held that Standard Life Assurance Limited (SLAL) was entitled to recover under its professional indemnity insurance policies (the Policies) from the defendant insurers (the Insurers) in respect of remediation payments made following a significant fall in value of the Standard Life Pension Sterling Fund (the Fund). …
Read More UK: Insured Entitled to Recover “Mitigation Costs” From Professional Indemnity Insurers

The third panel on Day 2 of the PLUS D&O Symposium discussed foreign exposures for U.S. companies. They noted that this encompasses two broad categories: claims brought in the U.S. relating to activities abroad, and claims actually brought abroad against U.S. companies. …
Read More PLUS D&O Symposium 2012 – Day 2 Third Panel: Foreign Exposures

The 2012 PLUS D&O Symposium continued with a panel that focused on D&O claims activity in the private company and non-profit space.  Traditionally, these sectors of the market have comprised the vast majority of the D&O universe, and the types of claims that tend to arise under these polices have not significantly changed for a generation. …
Read More PLUS D&O Symposium 2012 – Day 2 Second Panel: Private Company & Non-Profit D&O Claims Activity

The second day of the PLUS D&O Symposium began with a discussion of recent developments in D&O coverage.  The first big topic was coverage for investigation costs for entities only.  Insurers had already been offering entity coverage for formal investigations where an individual insured was also a target. …
Read More PLUS D&O Symposium 2012 – Day 2 First Panel: Developments in D&O Coverage

In Anthony Nathaniel Bennett v. Leonard John Stephens and Zenith Insurance Company [2012] EWHC 1 (QB), the Court was asked to consider the effect of a consent order (the Consent Order) between the parties and the reinsurer of Zenith, Faraday Underwriting Ltd (Faraday). …
Read More UK: Motor Insurers’ Bureau Cannot Guarantee Future Unsatisfied Payments of Road Traffic Accident Damages

The fourth and final panel of the 2012 PLUS D&O symposium’s first day focused its discussion on the current claim cycle, and where the industry finds itself.  The panel’s discussion was driven largely by questions from the moderator and the audience. …
Read More PLUS D&O Symposium 2012 – Day 1 Fourth Panel: Where In The Cycle Are We?

The third panel on day one of the PLUS D&O Symposium addressed developments arising from the financial crisis and the implications of these developments for D&O insurers, and assessed the current and potential future impact on the underwriting of financial institutions.  One panelist believes that the industry has weathered the financial crisis fairly well. …
Read More PLUS D&O Symposium 2012 – Day 1 Third Panel: Financial Institutions Underwriting: Is It Safe to Come Out Now?

In the second panel of the PLUS D&O Symposium, the panelists discussed the recent rise in litigation following mergers and acquisitions.  One panel member recalled that around 84% of M&A deals result in litigation, with an average of five lawsuits filed in each case. …
Read More PLUS D&O Symposium 2012 — Day 1 Second Panel: What’s New in M&A Litigation and How Did We Get Here?