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Oct 21, 2024 | 
businesslawtoday.org | Geoffrey B. Fehling |Brian T.M. Mammarella |Olivia G. Bushman |Jae Lynn Huckaba
Directors and officers of Delaware corporations often benefit from a robust suite of liability protections that generally include exculpation rights, indemnification rights, rights to recoup expenses incurred while defending a proceeding in advance of its final disposition (or “advancement” rights), and rights under director and officer (D&O) liability insurance policies.
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Oct 15, 2024 | 
lexology.com | Geoffrey B. Fehling |Olivia G. Bushman
Last week, just before Hurricane Milton made landfall, Florida state officials issued an emergency decree to all licensed insurance adjusters in the state to protect homeowners against “unfair and deceptive acts” and “post-storm fraud” by insurance carriers.
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Jul 24, 2024 | 
natlawreview.com | Olivia G. Bushman
Most management and professional liability policies—like directors and officers (D&O) liability, professional liability, errors and omissions (E&O) and employment practices liability (EPL)—are written on a “claims-made” basis, which means that they provide coverage based on when the claim is first made against the policyholder, not when the underlying accident, injury or wrongful act occurred.
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Apr 1, 2024 | 
businesslawtoday.org | Nastassia Merlino |Acquisitions Law |Geoffrey B. Fehling |Olivia G. Bushman
CURRENT MONTH (March 2024)Del. Court of Chancery Dismisses $600 Million Shareholder Stock Offer Suit as Special Litigation Committee Met Its Burden of Independence and Reasonable Investigation By Nastassia Merlino, NYU School of LawControlling shareholders of Carvana Co., Ernest Garcia II and Ernest Garcia III, participated in a direct offering by Carvana Co. made in late March 2020 after which Ernest Garcia II sold over $1 billion of his shares.
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Mar 25, 2024 | 
businesslawtoday.org | Geoffrey B. Fehling |Olivia G. Bushman |Jae Lynn Huckaba |Patrick M. McDermott
Macroeconomic factors and market indicators point to a rebound in M&A activity in 2024. An increase in deals necessarily affects many directors and officers (D&O) insurance policies in ways that could lead to future coverage disputes, as policy provisions addressing changes in control take effect and so-called tail policies are implemented.
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Feb 28, 2024 | 
lexblog.com | Michael Levine |Latosha M. Ellis |Olivia G. Bushman
Directors and Officers (“D&O”) and cyber-related incidents continued to make headlines while ramped up regulatory enforcement and new legislation significantly altered the insurance landscape for both policyholders and insurers. Other noteworthy decisions reinforced the importance of foundational insurance coverage principals.
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Feb 27, 2024 | 
lexology.com | Michael Levine |Latosha M. Ellis |Olivia G. Bushman
Directors and Officers (“D&O”) and cyber-related incidents continued to make headlines while ramped up regulatory enforcement and new legislation significantly altered the insurance landscape for both policyholders and insurers. Other noteworthy decisions reinforced the importance of foundational insurance coverage principals.
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Feb 22, 2024 | 
lexblog.com | Geoffrey B. Fehling |Olivia G. Bushman
Last week, a California federal judge held that a D&O liability insurer must advance subpoena-related defense costs on behalf of two former biotech directors and officers after the insurer could not provide conclusive evidence that the subpoenas alleged actual wrongdoing by the individuals after the company’s merger, as required to trigger the policy’s “Change in Control” exclusion. See AmTrust Int’l Underwriters DAC, Plaintiff, v. 180 Life Sciences Corp., et al., N.D. Cal.
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Feb 20, 2024 | 
law360.com | Michael Levine |Olivia G. Bushman
ADVERTISEMENT Don't want ads? Subscribe or login now. By Michael Levine and Olivia Bushman (February 20, 2024, 5:41 PM EST) -- Parties to insurance coverage disputes now have an opportunity for a more robust review of their coverage dispute. The enhancement comes by way of expanded jurisdiction of the Virginia Court of Appeals....
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Jan 19, 2024 | 
lexblog.com | Michael Levine |Olivia G. Bushman
Exercising its newly expanded jurisdiction that now permits Virginia’s intermediate appellate courts to hear insurance coverage disputes, the Court of Appeals recently reversed a lower court decision that allowed a two-year “Suits Against Us” provision to serve as a basis for an insurer’s refusal to reimburse repair and replacement costs incurred more than two years after the date of loss. Bowman II v. State Farm Fire and Casualty Co., Record No. 1256-22-3 (Nov. 21, 2023). CAV (unpublished opinion).
