On March 11, 2010, the Court of Appeals for the Sixth Circuit affirmed a district court decision permitting an insured to shift the burden of primary coverage for various securities-related claims to its previous insurer by purchasing an extended reporting period (ERP) and adding an endorsement to its current primary policy making it specifically excess of the prior policy. 

On February 17, 2010 Judge Kaplan issued a written opinion granting in part and denying in part the individual Lehman defendants’ motion to dismiss in In re: Lehman Brothers Mortgage-Backed Securities Litigation. 

Cornerstone Research released its report (here) on its review and analysis of 2009’s securities class action settlements. 

Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York granted McGraw Hill and Moody’s (together, the “Ratings Agencies”) motions to dismiss in both Tsereteli v. Residential Asset Securitization Trust 2006-A8 et al. and In re: IndyMac Securities Litigation — but without issuing detailed written

This session’s panel provided insight into the policyholder’s expectations with regard to the scope of coverage being purchased and claims handling.  The panel discussed in detail what policyholders expect from their brokers and their insurers at the procurement stage, including during coverage negotiations and setting the broker’s fee, and also in the event of a claim.