1st Generation Bronco: How things have changed! mesabitribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mesabitribune.com Daily Mail and Mail on Sunday newspapers.
Episode #11 - Successful Serial Entrepreneurship with Seth Burgett | Dickinson, Mackaman, Tyler & Hagen, P.C. jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Advertisement
D&O Insurer Muted by “Uncertainty” in Contract Exclusion, and “Complicated” Endorsements, in Headphone Manufacturer’s Liability Claim Wednesday, May 26, 2021
The Eighth Circuit Court of Appeals held that a D&O liability insurer could not rely on ambiguous endorsements as a basis to deny coverage for claims brought by investors against its insured company and its CEO. Reversing the Eastern District of Missouri, the appellate court in
Verto Medical Solutions LLC, et al. v. Allied World Specialty Insurance Co., No.19-3511 (8th Cir.), found the policy ambiguous as to whether a contractual liability exclusion had been deleted by endorsement and thus, the insurer must provide coverage for the underlying claims.
Because of "ambiguous" policy language in a complicated insurance contract, a directors and officers insurer may be liable for more than $600,000 in legal
ADVERTISEMENT
8th Circ. Revives Headphone Maker s D&O Coverage Battle
Law360 (May 11, 2021, 2:34 PM EDT) The Eighth Circuit on Tuesday revived a headphone manufacturer s suit seeking to force Allied World Specialty Insurance Co. to cover investor allegations that the manufacturer s director misappropriated a $3.5 million settlement, rejecting a trial court s application of a contractual liability exclusion.
Verto Medical Solutions LLC and its founder Seth Burgett s Missouri federal suit can proceed against Allied World for defense of claims they breached reallocation agreements with investors by withholding $1.6 million from the settlement with a former business partner of Verto, the panel said. If the insurance policy seems unclear, it is, the Eighth Circuit panel said, finding uncertainty over.