Be Aware Of Risk When Providing Notice To Multiple Insurers
Law360 (July 31, 2019, 2:43 PM EDT) -- In providing notice to insurers, policyholders commonly place all potential insurers on notice without consideration as to any potential downside to doing so. A recent decision by the U.S. Court of Appeals for the Seventh Circuit serves as a stark reminder that this time-honored approach is not without risk.
In Emmis Communications Corp. v. Illinois National Insurance Co., the policyholder gave notice under both a current directors and officers policy as well as a prior-year D&O policy. The Seventh Circuit concluded, based on an exclusion in the current policy for claims “as reported” under another policy, that the policyholder’s provision of notice...
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