Troutman Sanders is pleased to announce the release of 2014 | A Year In Review. This free annual publication by the Insurance Section highlights many of the key decisions delivered in 2014 by courts in nearly every jurisdiction of the country regarding a number of topics of significance to D&O and professional liability insurers. The comprehensive report is a must-read for claims personnel and others in the industry and undoubtedly will serve as a useful and convenient resource to you and your team.

2014 was a busy year for courts considering directors and officers and professional liability insurance coverage issues. Twenty federal courts of appeal, six state supreme courts, and dozens of other courts applying the law of 35 states, the District of Columbia, and Puerto Rico, issued notable decisions this year. This year again saw a large number of decisions with varying fact patterns in cases involving notice, prior notice/prior knowledge, related claims, whether restitution and disgorgement are insurable damages, and the meaning of professional services. We have summarized a selection of cases here and expect that these issues will continue to be important in the directors and officers and professional liability arena in 2015 and beyond.

The topics covered in this report include:

  • Related Claims
  • Prior Knowledge, Known Loss and Rescission
  • Prior Acts, Prior Notice, and Pending and Prior
  • Litigation
  • Dishonesty, Personal Profit Exclusions
  • Restitution, Disgorgement and Damages
  • Insured Capacity
  • Insured v. Insured Exclusions
  • Coverage for Contractual Liability
  • Professional Services
  • Independent Counsel
  • Advancement of Defense Costs
  • Allocation
  • Recoupment of Defense Costs and Settlement
  • Payments
  • Consent

Click here to read: 2014 | A Year In Review.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.