Posts tagged Insurance Coverage.
Time 4 Minute Read

It is not just your imagination:  verdicts are getting bigger.  So-called “nuclear verdicts” have increased in size and frequency over the past decade, particularly after the COVID-19 pandemic.  Litigation risk insurance is a little known, but highly effective, option meant to compliment traditional insurance products and provide additional protection for policyholders nervous about litigation exposure.

Time 1 Minute Read

Adriana Perez, a Miami-based insurance coverage associate at Hunton Andrews Kurth LLP, was appointed to co-chair the National Association of Women Lawyers' (“NAWL”) Women in Insurance Practice Area Affinity Group. This group is designed for women lawyers to connect and facilitate discussion, brainstorming and consultation with one another regarding hot button topics across the entire insurance industry.

As co-chair, Adriana will help lead events and webinars to connect members, garner new membership and encourage young women in law school to explore the insurance ...

Time 1 Minute Read

Hunton insurance recovery group partner Larry Bracken and associate Rachel Hudgins were each recognized in Georgia Super Lawyers 2023’s most recent publication. Larry Bracken was recognized as a Super Lawyer, and Rachel Hudgins was selected as a Rising Star for Insurance Coverage.

Time 1 Minute Read

Partners, Larry Bracken, Lorie Masters, and Koorosh Talieh (KT), were each recognized as Super Lawyers, while associates Yaniel Abreu and Rachel Hudgins were selected as Rising Stars for Insurance Coverage in 2022. Super Lawyers, part of Thomson Reuters, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The patented selection process includes independent research, peer nominations and peer evaluations. Ultimately, no more than 5% of lawyers in a state are selected as ...

Time 1 Minute Read

The unprecedented impact of COVID-19 on the American economy has forced many businesses of all sizes and in all industries to seek some form of financial relief. Perhaps the most prominent source is the Coronavirus Aid, Relief, and Economic Security Act (commonly known as the CARES Act), which provides more than $2 trillion in assistance through the largest economic stimulus package passed by Congress in U.S. history. In a recent article published by ABA Business Law Section’s Business Law Today, Hunton Andrews Kurth insurance attorneys Syed S. Ahmad and Cary D. Steklof discuss ...

Time 3 Minute Read

On May 26, 2020, a California Court of Appeals (4th District) issued its decision in Mosley et al. v. Pacific Specialty Ins. Co.  The case arose in the context of a marijuana-growing tenant who rerouted a home’s electrical system and caused an electrical fire.  The issue was whether the homeowner’s policy covered the loss.  The trial court granted the insurer’s motion for summary judgment and, in a divided decision, the Court of Appeals reversed in part.

Time 4 Minute Read

A Michigan federal court held recently in Great American Fidelity Ins. Co. v. Stout Risius Ross, Inc., et al., 2020 WL 601784, at *1 (E.D. Mich. Feb. 7, 2020), that an insurer must defend an investment advisor against lawsuits alleging that it fraudulently overvalued the stock of a company destined for bankruptcy.  The court determined that the insurer failed to show that an exclusion barring coverage for claims arising out of ERISA and other securities laws violations was broad enough to bar coverage for accompanying common law claims of fraud and negligent misrepresentation.

Time 1 Minute Read

In a recent article in the ABA Business Law Section publication Business Law Today, Hunton insurance recovery lawyers Syed Ahmad and Geoffrey Fehling discuss several important D&O insurance coverage issues to consider in M&A transactions. In the article, the authors discuss the intersection of M&A and insurance and how mergers, acquisitions, and other deals can impact the potential risks and protections afforded by D&O and other insurance policies . A copy of the article can be found here.

Time 3 Minute Read

The City of Baltimore is the latest victim of increasingly common ransomware attacks. On May 7, 2019, unidentified hackers infiltrated Baltimore’s computer system using a cyber-tool named EternalBlue, developed originally by the United States National Security Agency to identify vulnerabilities in computer systems. However, the NSA lost control of EternalBlue, and since 2017, cybercriminals have used it to infiltrate computer systems and demand payment in exchange for relinquishing control. For instance, in Baltimore, the hackers have frozen the City’s e-mail system and disrupted real estate transactions and utility billing systems, among many other things. The hackers reportedly demanded roughly $100,000 in Bitcoin to restore Baltimore’s system. The city has refused to pay.

Time 5 Minute Read

The Delaware Superior Court ruled that insurers could not rely on Written Consent and Cooperation clauses in directors and officers liability insurance policies to avoid coverage for settlements by Dole Food Company, Inc. (“Dole”) in shareholder disputes involving fraud in a go-private transaction.

Time 4 Minute Read

The Northern District of Illinois in Astellas US Holding, Inc. v. Starr Indemnity and Liability Co., 2018 WL 2431969, at *1 (N.D. Ill. May 30, 2018) held that a U.S. Department of Justice subpoena demanding documents relating to a government investigation constitutes a “Claim.”

Time 2 Minute Read

Does the term "wrongful act" always require that the conduct at issue be "wrongful"? In at least one D&O insurance policy, the answer may not be as clear as it seems. A federal district court in Texas recently denied an insurer's motion to dismiss a company's coverage claim for nearly $5 million in costs the company incurred defending a statutory appraisal lawsuit filed by disgruntled shareholders, citing the D&O policy's "terribly" written definition of "wrongful act," which may have been written so broadly that it provides coverage for "acts" that are not actually "wrongful."

Time 3 Minute Read

In football as in life, the best defense is often a good offense. But, that adage does not always play well in litigation. In Riddell, Inc. v. Superior Court, No. B275482, 2017 WL 3614305 (Cal. Ct. App. Aug. 23, 2017), the California Court of Appeal blew the whistle on such a tactic, holding that an insurer could not use discovery tools in a coverage dispute with its policyholder in order to prejudice the policyholder's defense in an underlying lawsuit.

Time 2 Minute Read

A federal judge has ordered an insurer to show cause why he should refrain from dismissing the insurer's case against an NCAA football conference over the availability of insurance for concussion-related lawsuits. Back in May, Great American Assurance Company filed a complaint against Conference USA, seeking a declaration that it need not defend or indemnify the conference against a lawsuit brought by a former football player. In the underlying lawsuit, the former player alleged that he suffered neurodegenerative disorders and diseases, including chronic traumatic encephalopathy ("CTE"), Alzheimer's disease, memory loss, mood swings, headaches, and anxiety stemming from repeated concussive brain impacts he sustained while playing for the University of Louisville. In the coverage action, Great American argues that a Limited Event Coverage endorsement added to Conference USA's policies did not include football as a covered event and therefore the policies do not provide coverage for "bodily injury" arising from football.

Time 5 Minute Read

The United Kingdom’s recent vote to sever ties with the European Union will have global economic consequences. The ramifications of an EU economic retraction resulting from financial uncertainty will undoubtedly reach Latin America.  The cross-border insurance industry will likely not be spared.  Multinationals with local operations must be proactive to get ahead of the storm – now is the time to review the unique aspects of their business and their target markets to pinpoint their ideal risk management structure, and to ensure that their insurance regimes sufficiently anticipate the shifting risks in this dynamic bloc.

Time 4 Minute Read

Globalization has inspired the development of cross-border business activities, as companies across several industries seek new markets for their goods and services.  The dynamic rewards have been accompanied by a corresponding increase in novel risks, and those who rely on traditional risk assessment mechanisms have often been left unnecessarily exposed.

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