Thought Leadership

Aon Financial Services Group: D&O Quarterly Review


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

2017 Quarterly Review - Fourth Quarter

General News

  • United States Supreme Court to Hear Three Securities-Related Lawsuits This Term
  • Supreme Court Hears Oral Argument in Case Concerning State Court Jurisdiction Over ’33 Act Claims
  • SEC Enforcement Activity for Public Companies and Subsidiaries
  • Excess Insurer Still in Data Breach Case Even Though Primary Insurer Didn’t Exhaust
  • Which ICO’s are Next to Get Caught up in the SEC’s ICO Dragnet?

Cases of Interest

United States Courts of Appeal Cases

  • Short-Term Director is a “Director” for Application of Insured vs. Insured Exclusion in Directors and Officers Liability Policy
  • “Fee Exclusion” in Bankers’ Liability Policy Bars Coverage for Settlement Related to Overdraft Fees
  • Plaintiff has Standing to Bring Lawsuit over Breach, but Failed to State a Proper Claim
  • Insurer’s Refusal to Consent to Settlement is Ruled Reasonable
  • Tenth Circuit Finds no D&O Coverage for SEC Investigation
  • Joint and Several Liability Imposed on a Payment Processor

Federal District Courts

  • No Coverage for Wage and Hour Claim under D&O and EPL Policy
  • Insurer Obligated to Pay Full Policy Limits on Loss Despite Competing “Other Insurance” Clauses
  • Insured’s Crime Policy Does Not Cover Amounts Fraudulently Wired by Insured’s Customer
  • Court Determines that Neither of Two Consecutive Policies Apply, based on Claims Made Timing and Prior Knowledge Exclusion
  • Improper Notice of First Claims Precludes Coverage for Subsequent, Interrelated Claim
  • Coverage Precluded Despite Carve-Back to Insured v. Insured Exclusion
  • No Coverage for Former Director when Insured Entity Dismissed
  • Court Finds No Coverage for Late Reported EEOC Charge

State Courts

  • Prior Knowledge Exclusion Applicable Where Insured Knew of Potential Claim Prior to Policy Inception

Cyber Corner

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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