Law360, New York (March 15, 2012, 12:47 PM ET) -- Companies reviewing their primary and excess Employee Retirement Income Security Act (ERISA) fiduciary liability policies should take note of the New York Court of Appeals’ ruling in Federal Insurance Co. v. IBM Corp. (N.Y. Feb. 21, 2012).
In that case, the state’s highest court ruled that an excess insurer on a “follow form” ERISA fiduciary liability policy was not required to cover the attorney fee portion of a settlement IBM paid in an ERISA class action, even though the primary insurer had provided coverage to the...
A Comprehensive ERISA Policy Now, Less Trouble Later
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