A Big Year For Coverage Rights

Law360, New York (December 5, 2013, 3:27 PM EST) -- The year 2013 has provided a number of important decisions affecting coverage rights under a variety of policies. Although far from complete, the following highlight some of those far-reaching decisions.

Coverage for Disgorgement of Profits Received by Third Parties

In J.P. Morgan Securities Inc. v. Vigilant Insurance Co., 21 N.Y.3d 324, 992 N.E.2d 1076 N.Y., 2013 (N.Y. June 11, 2013), the court rejected the insurers’ efforts to avoid coverage for disgorgement of profits paid not to the policyholder but to third parties. There, the U.S. Securities...
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