Emerging Issues Analysis: Reed Smith on PENDERGEST-HOLT V. CERTAIN UNDERWRITERS’ AT LLOYD’S OF LONDON

By John Berringer and Jill Averett, Reed Smith, LLP On March 15, 2010, the Fifth Circuit affirmed the decision of the U.S. District Court for the Southern District of Texas, PENDERGEST-HOLT V. CERTAIN UNDERWRITERS’ AT LLOYD’S OF LONDON , 2010 U.S. App. LEXIS 5384 (5 th Cir. Tex. Mar...

Stanford Directors And Officers Insurance Barred By Money Laundering Exclusion

HOUSTON -- (Mealey's) Insurers have proven that their policies' money laundering exclusion precludes coverage for directors and officers insureds' defense costs in underlying criminal and SEC litigation involving the alleged Stanford Ponzi scheme, a Texas federal judge held Oct. 13, granting...

The June 2011 Release of New Appleman New York Insurance Law is Now Available on Lexis.com

The newest release of New Appleman New York Insurance Law is available on lexis.com as of June 23, 2011. The release contains updates to reflect recent case law and interpretations issued by the Department of Insurance and the Office of General Counsel, as well as recent statutory and regulatory amendments...

Advisory—UK Bribery Act 2010 – Consider Your Directors and Officers Insurance?

By Raymond L. Sweigart and Rene L. Siemens, Partners, Pillsbury Winthrop Shaw Pittman LLP Section 7 of the UK Bribery Act that came into force on 1 July establishes a strict liability corporate offense for failure to prevent bribery. The only defence recognized in the Act is where an affected commercial...