Category: Insurance Coverage
Ask any attorney about an insurer’s defense obligations in Texas and you are bound to hear of the eight-corners rule. Under the eight-corners rule, “an insurer’s duty to defend is determined by the [] plaintiff’s pleadings, considered in light of the policy provisions, without regard to the truth or falsity of those allegations.” GuideOne Elite…
Covid-19 has frozen the world economy. As we write this, the United States has largely been under stay-at-home orders for more than a month and parts of Europe are approaching their second full month of a lockdown. The economic fallout of these Covid-19 lockdowns has been immediate and far-reaching. More than 26 million Americans have…
In BioChemics, Inc. v. AXIS Reinsurance Co., 2019 WL 2223125 (1st Cir. May 23, 2019), the United States Court of Appeals for the First Circuit held that a D&O policy did not provide coverage for an SEC action related to an investigation that began prior to the policy incepting.
In Tile Shop Holdings, Inc. v. Allied World Nat’l Assurance Co., 2019 WL 2357044 (D. Minn. June 4, 2019), the United States District Court for the District of Minnesota held that a prior acts exclusion in an excess D&O policy precluded coverage for claim that occurred during the policy period because the claim arose from “the same nucleus of operative facts” as a claim that occurred prior to the policy incepting.
From the tsunamis in Indonesia to the wildfires that ravaged California, 2018 saw a significant number of natural disasters. While these catastrophes yielded historic losses for insurers and reinsurers alike, the reinsurance market has proved remarkably stable.