John S. Siffert and Matthew G. Coogan, partners at Lankler Siffert & Wohl, review two New York decisions that have interpreted prevalent Errors & Omissions and Directors & Officers policy language to hold that defense costs incurred in reaching a settlement involving disgorgement are not covered even where a company's policy language expressly lists defense costs as a covered loss.
Insuring Defense Costs Arising From Disgorgement Claims
New York Law Journal
November 29, 2012
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