A Delaware court held that an appraisal action, which includes $39 million in attorneys’ fees, prejudgment interest, and costs incurred in defending litigation that arose out of Solera Holdings Inc.’s acquisition by Vista Equity Partners LP, constitutes a covered “securities claim” under Solera’s directors and officers liability insurance policy.
Continue Reading Delaware Court Says Appraisal Action Constitutes a “Securities Claim”; Triggers D&O Coverage
Defects
Waiver of Subrogation Enforced, Denying Insurers Recovery Against Additional Insured in $500 Million Off-Shore Oil Rig Loss
By Hunton Andrews Kurth LLP on
Posted in Duty to Defend, General Liability
The United States District Court for the Southern District of Texas recently rejected a claim by a group of insurance companies (“Underwriters”) against American Global Maritime Inc. for more than $500 million that the Underwriters paid the named insured under an Off-Shore Construction Risk insurance policy for losses resulting from the an alleged off-shore oil rig failure.
Continue Reading Waiver of Subrogation Enforced, Denying Insurers Recovery Against Additional Insured in $500 Million Off-Shore Oil Rig Loss