LexisNexis® Legal Newsroom
D&O Insurance: When Can a D&O Insurer Recoup Amounts It Has Paid Out?

As Alison Frankel recently reported in her On the Case blog ( here ), the insider trading charges to which former Morgan Stanley hedge fund manager Joseph "Chip" Skowron pled guilty cost the company a lot of money. And, as demonstrated in the lawsuit the company recently filed against...

Fourth Circuit: Guilty Pleas Trigger D&O Policy Exclusion and Insurer’s Right to Seek Recoupment of Previously Paid Defense Expenses

It sometimes comes as a surprise to some policyholders that D&O carriers contend that they have the right to try to recover amounts they have paid as defense expenses if it turns out that coverage for a claim is precluded by a policy exclusion. However, an insurer’s right of defense expense...