White Collar Crime: A Discussion with Adam Safwat, Esq of Nelson Mullins Riley and Scarborough

CAC Connect was thrilled to have had the opportunity recently to sit down and talk with Adam Safwat of Nelson Mullins Riley & Scarborough LLP and our own Bain Head.  Adam and Bain discussed the interplay between white collar crime, the federal securities laws and directors and officers liability insurance.  We hope you enjoy this informative podcast!  

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QUI-TAM ACTIONS IN THE BIDEN ERA

NEW LEGISLATION LIKELY SIGNALS A RISE IN QUI TAM ENFORCEMENT ACTIONS & RECOVERIES WHAT IS QUI TAM LEGAL ACTION? A qui tam legal action is where a private individual sues on behalf of the government. In the United States, qui tam actions fall under the False Claims Act. Under the False Claims Act, anyone who defrauds the federal government can be liable for hefty financial penalties. On July 6, 2021, President Biden signed emergency bipartisan […]

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A Mid-Summer Cyber Liability Update

We are thrilled to welcome two of CAC’s finest to our podcast today.  Adam Lantrip and Sam Levine join me to discuss cyber liability…the hottest topic in insurance right now.  We hope you enjoy.  

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RE-ENTRY

I haven’t written something personal in a long, long time.  That doesn’t mean I haven’t been thinking about writing.  So, here we go. No matter what your political affiliation may be, can we all agree that the biggest collective milestone we’ve hit this year is the reopening of the world from the COVID lockdown?  If your answer is “yes”, can I get an AMEN?  I know, I know.  The Delta variant is scary stuff.  And […]

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CAC Connect -Tips For Maximum Claim Recovery

Meet our legal and claims team and listen in as they discuss the top trends impacting claims recovery.  

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Uninsurability Defense – Two recent Delaware Court Rulings in D&O Insurance Coverage Cases are wins for policy holders

A recurring management liability coverage issue where policies do not expressly exclude disgorgement and restitution from covered “Loss” is whether disgorgement or restitution for alleged fraudulent conduct is otherwise uninsurable as a matter of law and/or public policy (the so-called “Uninsurability Defense”). A sometimes-related issue is the appropriate allocation for covered and uncovered matters and entities involved in claims. The answer to these questions, at least in Delaware, occurred in two recent cases where it […]

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Entity Coverage: What is a Securities Claim?

What Is A Securities Claim? In addition to insurance for directors and officers, D&O policies for public companies provide balance sheet protection for the entity itself, but such coverage is generally limited to “Securities Claims” as defined in each policy, also known in the industry as “Side C” coverage. Typically brought in the form of class action and derivative lawsuits by shareholders, securities claims often allege breaches of disclosure or fiduciary duties, or misleading and […]

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E&O and Cyber Market Update

Today’s blog post is from CAC’s Cyber team. Enjoy! Hard Market The cyber market is officially hard. Having a strong and comprehensive c…

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Looking for some good news…

It is 2021, and we are off to an interesting start. I’m going to leave it at that, and not focus on the negative. I’m looking for some g…

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The “B” Word:

Bankruptcy and D&O Insurance We have to talk about the “B” word. No one wants to go there. But as COVID-19 continues to wreak havoc throu…

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…are they employees or are they contractors?

Property-Related COVID Claims Update: I promised an update on the property-related COVID claims. It is coming! I’ve been focused on SPA…

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Mind the (SPAC) Gap

We’re taking a break from COVID (but not from social distancing and wearing our masks!) to dig into D&O coverage considerations when it c…

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Numb to the Numbers?

Is anyone else overwhelmed with the COVID business-related numbers and statistics we see every day? Add to that the fact that this is an…

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News Out of the UK Last Week:

The headlines last week were encouraging…”UK Policyholders Win FCA Test Case For Lockdown Payouts”. And while it is true that quite a few…

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Insurers Blamed for Department Store Closing…

Happy Thursday! Today we’re focusing on one COVID-19 related issue and one D&O issue. Before we get started, however, we have a footnot…

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We Begin Again with the Stimulus/No Stimulus Update:

There has been no material movement on the stimulus package that we have been discussing for the past few weeks. Reports have indicated,…

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Stimulus Package? Where are you?

We were hoping to have some good news from Congress last week on the next COVID-19 stimulus package, but as of Friday, July 31, 2020, nad…

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Financial Stimulus?

Late last week, Congress adjourned without reaching a deal on the next pandemic stimulus package. Over the weekend, President Trump took…

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Swapping an Exclamation Point for an Asterisk:

But first… Update on Financial Conduct Authority’s Test Case: As mentioned in an earlier post, the UK’s Financial Conduct Authority (FC…

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Our blog team has taken some time off over the last few weeks…

Hope you and your family are able to take some time as well. CAConnect is back, and here’s what we are thinking about… Michigan Court Rul…

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Taking a break from COVID-19 news

We are taking a break from COVID-19 news today and focusing on two recent cases, one just decided and one just filed. That does not mean…

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Limited Immunity for Higher Education Institutions?

When and how are kids going back to school this fall? That is one of the biggest questions parents, students, teachers and administrator…

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Casino Sues Property Insurer for COVID-19 Losses

The dollar signs continue to add up in the stand-off between insurers and insureds over pandemic-related business interruption and other …

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$200B in Projected Losses

Lloyd’s of London’s Forecast for the Insurance Industry Last week, Lloyd’s of London forecasted that the property and casualty insurance …

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Personal Liability for Unpaid Wages in Bankruptcy

Last week, a bankruptcy court in New York found an individual executive personally responsible to pay the wages of the former employees o…

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A Conversation with Berkshire Hathaway Specialty Insurance

On Friday, April 24, 2020, CAC Specialty hosted a Property & Casualty marketplace update discussion with senior leaders at Berkshire Hath…

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Public Companies Taking Federal Assistance Money are Taking Heat

Last week, Congress passed another stimulus bill designed in part to replenish the Paycheck Protection Program that provides loans to ass…

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Tables Turned

Insurer Files Dec Action Against Insured Re COVID-19 Coverage We’ve touched on numerous declaratory judgment actions being filed by polic…

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Update on Business Interruption Recovery Efforts:

As discussed in previous posts, businesses forced to close as a result of governmental orders related to COVID-19 are pursuing every aven…

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CAC Specialty’s D&O Claims Update

On Tuesday, April 14, 2020, CAC Specialty hosted a D&O Claims Update with four senior claims professionals in the industry. We were thri…

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CAC Specialty’s D&O Webinar: Part 2

CAC Specialty’s D&O Market Update: On Friday, April 3, 2020, CAC Specialty hosted the second of two D&O Market Updates with some of the m…

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Continued impacts of COVID-19…

COVID-19 Impact on Public Companies According to a report in the Wall Street Journal this morning, since the beginning of the pandemic: j…

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Did you grow up eating Chef-Boyardee pasta?

The Market: The DJIA opened at 20,943.51. Unemployment numbers came out this morning, and a record 6.6 million Americans filed this past…

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CAC Specialty’s D&O Webinar: Key Takeaways

CAC Specialty’s D&O Market Update: On Friday, March 27, CAC Specialty hosted the first of two D&O Market Updates with some of the most se…

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David Barnes participates in COVID-19 related M&A Panel:

Recap of CAC Specialty’s Participation in COVID-19 Related M&A Panel: Yesterday, CAC Specialty’s David Barnes, Senior Vice President Tran…

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Glad you came to CAConnect!

Welcome to CAConnect! Our goal is to provide periodic updates on the impact COVID-19 is having on the insurance marketplace as a whole, …

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