In U.S. Liability Ins. Co. v. A&B Market plus, Inc., 2019 WL 2107808 (S.D. Cal. May 14, 2019), the United States District Court for the Southern District of California held that attorney’s fees awarded in connection with a derivative action for equitable and declaratory relief are covered damages under a D&O Policy.
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In Xtreme Protection Services, LLC v. Steadfast Ins. Co., 2019 IL App (1st) 181501 (May 3, 2019) the Illinois Appellate court considered when punitive damages give rise to a conflict of interest entitling the insured to independent counsel.
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.
Every business has insurance, whether it’s medical insurance for employees, property insurance for the building, or liability insurance for the actions of its directors, officers, and employees. While the insurance landscape is constantly evolving, recent social progress has led to rapid changes that will have huge implications for the insurance industry. Due to the major impact of the #MeToo movement, many insurance companies are rethinking how or if they will offer Employment Practices Liability Insurance (EPLI) to certain industries.
The typical crime insurance policy includes computer fraud coverage, which insures loss resulting “directly from” the use of a computer. As is readily apparent, computers are now used in nearly every aspect of modern business. As a result, the potential losses that can result from the use of a computer have grown exponentially. Courts have struggled, in turn, to define the scope of computer fraud coverage.