Buried Treasure – Part Three

DO “BURIED TREASURES” EXIST?  Part Three of a Three Part Series Ascertaining Whether Buried Treasure Exists Requires a Five-Part Analysis These issues include: 1.       Did the company give notice to the insurers on risk as of the date of the first alleged “wrongful act” as well as all subsequent carriers and those at higher levels…

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Media Liability Did Not Cover Claims For Infringement of Title or Slogan in Unfair Competition Lawsuit Under Media Liability Policy

Interstate Bakeries Corp. v. OneBeacon Ins. Co., ___ F. Supp. 2d ___, 2011 WL 767055 (W.D. Mo. Feb. 25, 2011) The OneBeacon policy provides “advertising and personal injury liability” coverage for “claims arising from an occurrence committed by the insured during the policy term in or for scheduled advertising and arising from: . . .…

Settlement Uncovered Where Christmas Lights Promoted in Showroom Displays and Selected Customer Presentations

Santa’s Best Craft, LLC v. Zurich Am. Ins. Co., 941 N.E.2d 291, 304-05 (Ill. App. Ct. (1st Dist., 2d Div.) 2010) The court’s decision requiring “actual coverage” only comports with earlier precedent if potential coverage of the claim asserted was found not to be a “primary focus” at the time of settlement.  But under Zurich’s…

Directors & Officers Insurer Had To Pay For Damages Caused By A “Wrongful Act” Despite “Personal Profit” Exclusion And a Conviction

Wintermute v. Kansas Bankers Surety Co., 630 F.3d 1063, 1069 (8th Cir. (Mo.) 2011) (Arkansas law) Reversing district court, “personal profit” exclusion did not bar indemnity for a “loss” for a “wrongful act” because of “in-fact” language which required adjudication against insured despite the insured’s conviction for a criminal act.