PRECEDENT-SETTING DECISION:
INSURANCE POLICY CONSENT PROVISIONS ARE

ENFORCEABLE AS WRITTEN

A precedent-setting decision by the New York State Court of Appeals will most likely impact the way companies and regulators resolve regulatory investigations and litigation.

On March 13, 2008, the Court of Appeals unanimously rejected claims for insurance by a prominent Wall Street investment bank to cover any portion of the $80 million the bank paid to settle securities enforcement claims because the bank failed to obtain its insurers’ consent to the settlements.

For our clients and friends, we have prepared a brief overview of the issues in this precedent-setting decision. Please read it here.

The attorneys of
DLA Piper US LLP regularly negotiate and litigate sophisticated
high-exposure insurance coverage matters for market-leading insurers in nearly every line of insurance.

For more information, please contact:

Joseph G. Finnerty III

Michael D. Hynes

Published by DLA Piper US LLP
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