7th Circ. Decision Creates Minefield For Insurance Industry
Law360, New York (July 22, 2019, 2:20 PM EDT) -- Directors and officers policies are an important tool used to protect companies and directors from the costs and burdens of corporate litigation. Generally, they are claims-made policies.
In order to limit their exposure, D&O carriers typically include language limiting coverage to those claims arising during their policy period, seeking to exclude claims which already have arisen. This exclusion bars coverage under the current policy for claims which are "related" or "interrelated" with a prior wrongful act.
Application of the exclusion thus requires analysis of whether the current claim is new or a "related" or "interrelated" as to the first claim. This...
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