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Aon Financial Services Group: D&O Quarterly Review


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

2017 Quarterly Review - Second Quarter

General News

  • New York Department of Financial Services Cybersecurity Regulation Opens the Door to Increased D&O Exposure
  • United States Supreme Court Agrees to Hear Case Involving Concurrent Jurisdiction for Section 11 Cases
  • The Tenth Circuit Federal Court of Appeals to Review Ruling Denying Coverage for an SEC Investigation
  • CCO liable for Anti-Money Laundering Compliance Failures under Bank Secrecy Act
  • Securities Class Action Settlements in 2016 Results in the Largest Approved Settlement Fund of any Year

Federal Appellate Decisions

  • Fourth Circuit Holds that Class Action Plaintiff Lacked Concrete Injury Required for Standing under FCRA
  • Second Circuit Dismisses Suit Arising Out of Data Breach on Basis of Standing
  • Eighth Circuit Upholds Ruling for Insurers on Issue Regarding Crime Policy’s Ownership Provision
  • Eleventh Circuit Court of Appeals Holds that Prior Acts Exclusion Precludes Coverage for Executives where Facts Pre-Dated the Prior Acts Date
  • Notice Provided Seven Months after the Filing of Suit Found to be Untimely under an EPL Policy
  • Complaints Must Explicitly Allege Acts Arising from Professional Services to Trigger E&O Policy
  • Ninth Circuit to Determine whether a Directors & Officers Liability Policy’s Professional Services Exclusion Applies to False Claims Act Allegations
  • Sixth Circuit Holds that Insured v. Insured Exclusion Precludes Coverage for Claim Assigned by Debtor in Possession to Liquidation Trustee

Other Cases of Note

  • Federal Court Holds Website Inaccessible to Visually-Impaired Users Violates ADA
  • Colorado Federal Court Applies Notice-Prejudice Rule to Claims-Made Medical Malpractice Policy
  • Disgorgement Payment is Insurable Loss Based upon Evidence that the Payment was not the Insureds’ Ill-gotten Gains but Rather the Profits of the Insureds’ Customers
  • Illinois District Court Rules in Favor of Insurer on Estoppel, Prior Notice, and the Insured v. Insured Exclusion

Cyber Corner

  • Global Ransomware Attacks Become Front Page News

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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