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Aon Financial Services Group: D&O Quarterly Review


A monthly publication highlighting news and developments in executive liability and insurance

2018 Quarterly Review - Second Quarter

News & Developments

  • Justice Anthony Kennedy Announces Retirement from the Supreme Court
  • U.S. Supreme Court Grants Cert on Question of Who Must “Make” a Fraudulent Statement
  • CFTC Brings Cybersecurity Enforcement Action
  • The Pros and Cons of Barring IPO-Related Securities Class Actions

Cases of Interest

Insurance Coverage Cases

  • Coverage Excluded for Social Engineering Loss because Employee had Authority to Initiate Wire Transfer
  • Eleventh Circuit Finds No “Direct Loss” under Computer Fraud Coverage Section
  • Subpoena and Tolling Agreement Trigger D&O Policy
  • Louisiana Court Finds in Favor of Insured on Claims-Made Date
  • D&O Coverage Available for Executive Sued in Insured Capacity, But Not for Insured Entity
  • “Tax Advice” Not a Covered Professional Service under a Life Agent’s E&O Policy
  • Ninth Circuit Finds Professional Services Exclusion Precludes D&O Coverage for Suit Alleging Improper Employee Bonuses
  • Court Finds Insurer’s Denial of Coverage Under Cyber Policy for TCPA Claims was Proper
  • Prior Knowledge Exclusion Bars Coverage for Subsequent Claim
  • Securities Lawsuit Alleging Wrongful Acts Across Multiple Policy Periods Excluded under Both Policies
  • California Supreme Court Rules That Insured Employers Are Entitled to CGL Coverage for Employees’ Intentional Acts
  • Insurer Entitled to Decline Coverage Due to Material Misrepresentation in Application
  • Court Allows Defense Expense Reimbursement While Company is in Receivership

Other Cases of Interest

  • The Ninth Circuit Rules Section 14(e) Claims for Material Misstatements Need Plead Only Negligence, Not Scienter
  • Delaware Court Confirms Parent Company’s Shareholders not Entitled to Appraisal Rights
  • Seventh Circuit Allows Data Breach Litigation to Continue
  • FTC’s Enforcement Action Vacated
  • California Supreme Court Upholds New Test for Classification of Employees vs. Independent Contractor for California Wage Orders

Related Information

Directors' and Officers' Liability Insurance
D&O Year in Review


Robbyn Reichman, Esq.
t +1.212.441.2309

Jacqueline Waters, Esq.
t +1.312.381.4563

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