Insurance Business America

Delaware court hands D&O insurers $28 million loss in bump-up exclusion fight

The case settled for $28 million following court-recommended mediation. Harman turned to its D&O tower – Illinois National Insurance Company on the primary layer, Federal Insurance Company as first ...
JD Supra

Fourth Circuit: “Bump-Up” Exclusion Applies When Settlement Seeks to Cure Harms Associated with Undisclosed Conflict of Interest During Merger Transaction

The United States Court of Appeals for the Fourth Circuit, applying Virginia law, has affirmed a district court’s ruling that a “bump-up” provision in a D&O policy applied to bar indemnity coverage ...
JD Supra

Delaware Superior Court Holds That Bump-Up Exclusion In D&O Insurance Does Not Apply To Securities Claims Arising Out Of An M&A Transaction

On January 3, 2025, Judge Paul R. Wallace of the Superior Court for the State of Delaware granted plaintiff’s motion for summary judgment in a directors and officers (“D&O”) insurance denial case ...
Law

Fourth Circuit Upholds Bump-Up Exclusion in Towers Watson Insurance Case

On May 28, 2025, the United States Court of Appeals for the Fourth Circuit ruled against Towers Watson, finding that its claim for loss related to the settlement of shareholder litigation arising from ...