Tag Archives: after adjudication

D&O Insurance: Antitrust Verdict Does Not Trigger Policy’s Improper Profit Exclusion

In a unpublished August 30, 2017 opinion (here), the Ninth Circuit affirmed a district court ruling that a trial court verdict that a hospital system had violated the antitrust laws was not an adjudication sufficient to trigger the improper profit exclusion in the hospital system’s D&O insurance policy, and therefore that the hospital system was … Continue Reading

D&O Insurance: Convictions, Appeals, and the Conduct Exclusion

Most D&O insurance policies have conduct exclusions precluding coverage for fraudulent, criminal, or willful misconduct. However, mere allegations are insufficient to trigger this exclusion. If allegations alone were enough, then many claims that would otherwise be covered under the policy would be precluded from coverage, because many D&O claims involve allegations of fraudulent, criminal, or … Continue Reading

N.Y. Intermediate App. Ct. Allows D&O Insurers to Assert Public Policy Defense in Long-Running Bear Stearns Coverage Action

In the latest round in the long-running battle over whether there is D&O insurance coverage for the amounts Bear Stearns paid in settlement of an SEC enforcement action for alleged market timing, the D&O insurers may have finally found an issue on which they may be allowed to try to dispute coverage. Even though, in … Continue Reading
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