Aug 9, 2018
Louis Kozloff, a partner in Goldberg Segalla’s Global Insurance Services group and a former Vice President and Chief Litigation Counsel for a large insurance company, along with Todd D. Kremin, a partner in Goldberg Segalla’s Global Insurance Services group, examine the Second Circuit’s high-profile decision in Beazley Insurance Co. v. Ace American Insurance Co. This insurance coverage dispute follows from NASDAQ’s technical problems during Facebook’s initial public offering in 2012. Lou and Todd begin by discussing the Second Circuit’s interpretation of the professional services exclusion found in D&O liability insurance policies. They then identify the key takeaways from the decision and the far-reaching effects the decision may have on underwriting D&O and E&O policies.