May 16, 2006 |
Insurance Coverage, Appellate
We obtained a settlement of $10,050,000 for a client in a very complex D&O insurance coverage matter (see entries below dated December 2005, May 2005, December 2004). The settlement agreement was publicly filed with the SEC. The subtleties of this matter are something which I would be happy to discuss with anyone who is interested. They included, but were not limited to: a) dealing with multiple layers of coverage each of which had different interests and different counsel (i.e. – different personalities); b) dealing with a client whose management, outside counsel, accountants and insurance brokers were almost 100% new post-incident; c) sharing information with, and considering input from, counsel for the various present and/or former directors, officers and interested employees (more than 10 different firms).