John Paul Sutrich at ARI Risk Management told me about this case yesterday and now its on Advisen. A real blow to insurers using "allocation language" to force insureds to negotiate on defense costs before a case is resolved.
See Advisen Story: http://fpn.advisen.com/articles/article81238054-546578096.html
While the soft market for pricing and coverage on D&O continues the pain for insurers on cases still working their way through the legal pipeline makes one wonder how profitable this line of coverage is for them? Only time will tell.
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