In a March 20, 2014 decision involving interpretation of the interrelated wrongful acts provision and of the contractual liability exclusion in a bank professional liability insurance policy, District of Idaho Magistrate Judge Ronald E. Bush entered summary judgment on behalf of the policyholder, ruling that the underlying dispute was covered under the policy’s lender liability
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IndyMac Coverage Suit Settled, But Oral Argument Will Stay on the Calendar?: As I noted in a recent post (here, second item), the parties in the IndyMac D&O insurance coverage action – that is, the dispute to determine whether or not only a single $80 million tower of insurance applies to the various
D&O Insurance: What May Be Considered In Deciding Whether Claims Are Interrelated?
In yet another insurance coverage dispute in which a D&O insurer denied coverage for a claim based on the assertion that the claim was interrelated with a prior claim first made before its policy period, District of Massachusetts Judge Rya Zobel has ruled that BioChemics is not entitled to summary judgment on the issue of
D&O Insurance: Because Policy Clauses Conflict, D&O Insurer Must Cover Interrelated Claims
My beat here at The D&O Diary requires me to read many insurance coverage decisions. I am well accustomed to the idea that the court opinions can be varied lot. But every now and then I run across a decision that is a real head-scratcher. A July 16, 2013 decision out of a Texas intermediate
D&O Insurance: Separate Claims Deemed a Single Claim–What Are the Implications?
As I have previously noted (refer for example here), one of the most vexing issues in the D&O claims arena is the questions of whether or not two claims are or are not interrelated. If the two are interrelated, they are deemed a single claim for purposes of determining the claims made date. The
D&O Insurance: Subsequent IndyMac Bank Claims Interrelated with Prior Suit, Precluding Coverage for Later Claims under Second Insurance Program
One of the perennial D&O insurance coverage questions is whether or not subsequent claims are “interrelated” with a prior claim and therefore deemed first made at the time of the prior claim. This question can be particularly critical when the subsequent claims arose during a successor policy period; the answer to the “interrelatedness” question can
D&O Insurance: Meditations on the Meaning of “Relatedness”
Of all the questions surrounding liability insurance, the one issue that seemingly ought to be most obvious is the amount of insurance potentially available to respond to claims. Indeed, the question of the amount of insurance potentially available for a single claim usually is relatively straightforward and usually is answered by reference to the limit
D&O Insurance: Coverage for SafeNet Options Backdating Securities Suit Settlement Denied
The options backdating scandal may now be ancient history, but questions surrounding insurance coverage for the scandal’s consequences apparently continue to live on. In a September 9, 2011 opinion applying Maryland law, Southern District of New York Judge Naomi Reice Buchwald ruled in a coverage action brought by SafeNet’s excess D&O insurer that, among many