KENNEDYS – D&O INSURERS WIN DECLARATORY JUDGMENT VIA INSURED CAPACITY EXCLUSION
Author - Various
A recent decision by a New York trial court highlights the impact corporate structure has on the scope and availability of directors and officers (D&O) insurance. The Commercial Division of New York’s Supreme Court applied an insured capacity exclusion to preclude D&O coverage for American Realty Capital Properties and related entities (AR Capital) and their directors and officers. The opinion, issued on February 2, 2021, highlights the importance of confirming that alleged wrongful conduct was undertaken in an insured capacity for D&O coverage.
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