A D&O endorsement excluded coverage for claims alleging damage to other property as a result of defective design or construction. According to a May 8, 2013 opinion of the S.C. Court of Appeals, coverage for allegations against the insured for breach of fiduciary duty, however, was not excluded. In Pulliam v. Travelers Indemnity Co., individual… Continue Reading
D&O Coverage Ends on Date of Insured’s Jury Conviction
The Fourth Circuit has affirmed a Virginia district court’s decision, finding the conviction of an insured in an underlying criminal case ended an insurer’s obligation to pay defense costs pursuant to a D&O policy. Farkas v. Nat’l Union Fire Ins. Co. of Pittsburgh, Pa, No. 12-1481 (4th Cir. Apr. 11, 2013) (unpublished). National Union provided… Continue Reading
