“Recent Developments Affecting Professionals’, Officers’, and Directors’ Liability Insurance,” ABA Tort Trial and Insurance Practice Law Journal
“The first part of this article addresses developments in directors and officers insurance coverage over the past year, including the narrowing of the professional services exclusion in the context of service-related claims. … The second part turns to developments over the past year in the specific area of malpractice claims against accounting firms. … The third and final part discusses developments in the specific area of insurance broker and agent liability and considers varied topics,” writes Peter J. Biging, Vice Chair of Goldberg Segalla’s Professional Liability Practice Group.
In this multi-part, collaborative piece, Peter explores the numerous trends in various aspects of professional liability coverage over the past year. Beginning with a focus on D&O, he looks at how the professional services exclusion in service-related claims has been narrowed by the courts, the overlap between cyber insurance and D&O insurance, and trends in government investigations into mergers.
While evaluating malpractice claims against accounting firms, Peter says, “These decisions have broad implications for professional insurance because they focus largely on the level of fault that a claimant must prove to establish claims against its accountant, which in turn may affect whether the professional may obtain insurance coverage for the claims or will be barred by a conduct-based exclusion.” He then concludes by discussing developments in broker and agent liability, the nuanced relationship between policy holders and brokers, and statutes of limitations associated with a policyholder’s duty to read their policy.
Read the article here:
“Recent Developments Affecting Professionals’, Officers’, and Directors’ Liability Insurance,” ABA Tort Trial and Insurance Practice Law Journal, April 16, 2017