Recent Articles

Don't Forget About D&O Insurance When The Government Subpoena Arrives

March 21, 2012 14:10

By Paul E. Breene and Mark S. Hersh When an investigation is commenced by a federal or state government entity, whether by service of a subpoena or by less formal means, a company should have two standard operating procedures: first, hire excellent and experienced counsel to respond to the...

Getting the Corporate Deal Done: A Little Insurance Knowledge Goes a Long Way

March 09, 2012 21:55

A company’s insurance program is an asset that is often ignored during corporate transactions. This is a mistake. Understanding the insurance assets available and how to maximize insurance assets during a corporate transaction will give companies an advantage at the negotiating...

Coverage For Construction Defects

February 15, 2012 16:36

A hypothetical: The roof of a parking garage that is part of a condominium development partially collapses, destroying landscaping over the collapsed section of the roof and the floors underneath the collapsed section. The roof had been fully installed and the parking garage was being used at...

Answers To The Most Common And Perplexing Questions About Professional Liability Coverage

February 01, 2012 19:56

Reed Smith partner Tom Marrinson, resident in the firm’s Chicago office, has been advising policyholders about their insurance coverage, and representing them in coverage litigation, for more than 20 years. While Tom’s experience ranges widely, he has literally written the book on...

Insurance Coverage Legal Audits are Not a Luxury

January 26, 2010 20:43

This post was written for  Boardmember.com Most executives view insurance with disdain, because it makes no immediate contribution to production, research and development or marketing. Ordinarily, insurance has no tangible results and does not improve the balance sheet. It does not...

Bond Insurer FGIC Ordered To Stop Writing Policies and To Cease Paying Claims; ISDA Announces FGIC 'Failure to Pay' Credit Event

Ann Kramer
December 11, 2009 20:15

This post was written by David Schlecker and Andrea Pincus. 3rd Quarter Financials Lead to Action By NYS Superintendant of Insurance and ISDA On November 24, 2009, Financial Guaranty Insurance Company ("FGIC"), a New York- domiciled monoline financial guaranty insurer, was ordered...

Pushing Back on Insurance Coverage Denials for Sexual Abuse Claims

Ann Kramer
November 16, 2009 15:19

This post was written by John B. Berringer It has become routine in the past ten years or so for liability insurance companies to deny insurance coverage for sexual abuse claims, often on the theory that sexual abuse is intentional in nature. Many liability insurance policies commonly adopt...

Predictable Responses to Benmosche Leak

Ann Kramer
November 11, 2009 19:17

This morning’s WSJ report that Robert Benmosche, recently appointed CEO of AIG, is unhappy with government pay restrictions, has elicited predictable, less than sympathetic responses. “Tiny Violins” is the headline from the Daily Beast.  New York Magazine’s...

NY High Court Holds that "Self-Serving" Testimony from Underwriter is Insufficient for Rescission

Ann Kramer
October 27, 2009 19:57

This post was written by J. Andrew Moss The New York Court of Appeals rejected an effort by Continental Casualty Company (CNA) to rescind an excess professional liability (E&O) policy issued to the law firm Pepper Hamilton LLP, in a decision under Pennsylvania law that also affirmed...

UK's Solvent Schemes Dealt Another Blow: Hopefully, the Coup de Grâce

Ann Kramer
October 19, 2009 17:21

The travesty that is the Solvent Scheme of Arrangement has been dealt another blow; one hopes a fatal one. A month after issuing a blistering attack on the practice, Lord Glennie entered final judgment this week refusing to sanction the Scottish Lion scheme. It is worth taking a long look...