With new headlines involving sexual harassment and other inappropriate sexual conduct continuing to emerge on a daily basis, insurance coverage for claims that might emerge is something every company should consider. Recently, media reports have discussed settlements of shareholder derivative claims against members of the boards of directors and other senior executives of public companies. These settlements illustrate both the type of … Continue Reading
When an insurance claim is denied, policyholders sometimes look to their broker as a potential source of recovery. Generally speaking, a broker owes its client the duty to procure the scope of coverage requested. When a broker fails to do so, it may be liable for any gap in its client’s coverage. The Mississippi Supreme … Continue Reading
A federal judge in Minnesota recently held that “restitution” paid to settle a class action lawsuit was covered under the terms of a professional liability policy. The court in U.S. Bank National Ass’n et al. v. Indian Harbor Ins. Co. et al. rejected the argument frequently used by directors and officers (“D&O”) insurance carriers that … Continue Reading
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