NEW:  Rolnick Kramer Sadighi discusses the Delaware Supreme Court’s decision in In re Solera Insurance Coverage Appeals, Nos. 413, 418, 2019, opinion (Del. Oct. 23, 2020), holding that that a statutory appraisal proceeding was not covered by a D&O insurance policy under terms that limited coverage to alleged “violations” of law, in Appraisal Action Leads to Insurance Action: D&O Doesn’t Cover Appraisal.

D&O Diary’s Kevin LaCroix discusses the Delaware Supreme Court’s decision in In re Solera Insurance Coverage Appeals, Nos. 413, 418, 2019, opinion (Del. Oct. 23, 2020), holding that that a statutory appraisal proceeding was not covered by a D&O insurance policy under terms that limited coverage to alleged “violations” of law, in Delaware Supreme Court: Appraisal Action Not a “Securities Claim” and Therefore Not Covered by D&O Insurance.

Wachtell discusses the California Superior Court’s ruling in Onyx Pharmaceuticals Inc. v. Old Republic Insurance Co., et al., C.A. No. 538248, order (Cal. Super. Oct. 1, 2020), finding that a D&O insurance policy’s “bump-up” exclusion permitted excess carriers to disclaim coverage for sums paid to settle a class action against a merger target’s directors challenging the consideration paid stockholders as inadequate in “Bump-Up Exclusion” Bars Coverage of Settlement of Deal Litigation Claims.

D&O Diary’s Kevin LaCroix discusses dynamics of the D&O insurance marketplace and challenges that frustrate insurers’ ability to engage in active loss prevention in Mandating D&O Insurer Rotation? A Critique.

Changing the Guard: Improving Corporate Governance with D&O Insurer Rotations discusses proposes mandatory rotation of D&O insurers as a means of alleviating agency costs and relational contracting that result in D&O insurers’ failure to engage in active loss prevention and contribute to moral hazard.