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Joseph M. McLaughlin, a partner at Simpson Thacher & Bartlett, reviews recent noteworthy decisions addressing: (i) the interaction of an application severability clause in a primary policy (addressing to what extent one insured's knowledge of application misrepresentations can be imputed to other insureds) with a "prior knowledge" exclusion in excess policies; (ii) the scope of a standard-form securities exclusion; (iii) the consequences of failing to give timely notice under a "claims made and reported" policy; and (iv) the effect of an "other insurance" clause in a D&O policy on the D&O insurer's defense cost obligations to a mutual insured also holding a commercial general liability policy with another insurer.
April 09, 2009 at 12:00 AM
1 minute read
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