... Defendant. and. ALLSTATE INSURANCE COMPANY [09-3091];. MT. MCKINLEY INSURANCE COMPANY...("New Republic"), seek coverage from multiple insurance companies, Appellees, for ... thousands of asbestos-exposure products-liability lawsuits that began in 1981. Many Nos. 08-4735, 0...McKinley under the "Contractual Liability" provisions of the policies issued by it...
A hypothetical conversation about property liability insurance takes place between baseball players. The first baseman says that his brother-in-law Tom, who owns a sporting goods store, is having problems with his landlord. The landlord is demanding proof that Tom's premises liability coverage includes something called Broad Form PD. Tom calls his agent, who says that there is no such thing. The third baseman says that he can understand Tom's problems: His brother, Neil, is having a similar situation with the builder of his new beach house and his lawyer. The lawyer says the contractor has to have blanket contractual liability coverage, but the contractor's insurance agent says that it's no big deal. In conclusion, it's always best to check with whomever is asking for liability insuranc...
Perhaps the most fertile ground for insurance coverage disputes arising from construction litigation involves underlying claims based on construction defects -- sometimes known as "sick building" cases. Prior to the early 1990s, liability insurers had few options other than to provide defense and indemnity for construction defect claims. Since that time, however, insurance coverage law has evolved. There is really no significant difference between bad faith claims handling in the construction liability context and that of other third-party liability claims. Some states, however, have unique statutory schemes to address bad faith or extra-contractual claims. The main point to be made about potential extra-contractual damages in construction defect litigation is that the referenced terms,...
... when Manitex assumed the “tort liability” of another party through an “insured contract”... applies.” An exclusion to that coverage provision provides that the insurance does not app... removes from coverage Manitex’s contractual assumption of liability, but the “insured contra...
CHICAGO, May 17 /PRNewswire/ -- SmithAmundsen LLC is pleased to announce the election of six new partners effective May 14, 2010. The following attorneys in the firm's Chicago office were elected to partner: Christine Anto, a member of the firm's Insurance Services Group, concentrates her practice on personal, commercial, and professional lines of insurance, as well as extra-contractual/bad faith claims. Ms. Anto has handled coverage matters in the areas of automobile liability, uninsured/underinsured motorists, homeowners, business liability, medical malpractice, construction, environmental, and toxic tort. Ms. Anto received a B.A. from Marquette University and a J.D. from DePaul University College of Law.
... Defendant. and. ALLSTATE INSURANCE COMPANY [09-3091];. MT. MCKINLEY INSURANCE COMPANY...("New Republic"), seek coverage from multiple insurance companies, Appellees, for ... thousands of asbestos-exposure products-liability lawsuits that began in 1981. Many Nos. 08-4735, 0...McKinley under the "Contractual Liability" provisions of the policies issued by it...
Many CPA firms use engagement letters containing clauses that seek to minimize their exposure to legal liabilities for audits, reviews, compilations, and other professional services. In September 2006, the AICPA's Professional Ethics Executive Committee (PEEC) issued an exposure draft (ED) to interpret Rule 101 that updated a similar September 2005 exposure draft. In light of the comment letters and other evidence, the PEEC abandoned the exposure draft and, instead, issued Ethics Interpretation 501-8. This interpretation recognized that individual regulators have already adopted rules that restrict the use of certain clauses in audit or other attestation engagements. Mitigating risk through limited liability clauses is a complicated issue for US auditors. The AICPA's issuance of Ethics ...
... (ADR) agreements to help control their insurance and other costs, especially for clients operating ... diat were secondary beneficiaries to contractual relationships. Lastiy, the National Association of... auditors can obtain adequate insurance coverage. The ability to purchase adequate professional ind...
... ALLSTATE INSURANCE COMPANY (09-3091);. MT. MCKINLEY INSURANCE COMPAN.... ("New Republic"), seek coverage from multiple insurance companies, Appellees, for ... thousands of asbestos-exposure products-liability lawsuits that began in 1981. Many of the underlyin...McKinley under the "Contractual Liability" provisions of the policies issued by it...
In July 2008, bankruptcy courts across the US prepared themselves for a busy season. As many as 5,664 companies sought to liquidate or restructure that month alone, a 57% increase from the prior year. This Note looks behind the shield of D&O insurance and examines its treatment under the Bankruptcy Code. Part I provides an overview of the duties of directors and officers of a corporation, as well as the protections they receive under the business judgment rule and indemnification contracts. Part II explains the three different "sides" of D&O insurance policies. Part III discusses basic bankruptcy concepts including directors' and officers' duties in bankruptcy, automatic stay, and property of the estate provisions of the Code, as well as the treatment of contracts in bankruptcy....
... directors and officers from personal liability (except for criminal wrongdoing) that might arise ... three different types of D&O insurance coverage, known as Side A, Side B, and Side C. Each of thes... that creditors negotiated their contractual rights to payment and are therefore protected by t...
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