The Manhattan State Supreme Court building at 60 Centre Street. Photo: Ryland West/ALM Southern District Finds That Final Adjudication Limitation in Conduct Exclusion Does Not Require Exhaustion of All Appeals
In their Corporate Insurance Law column, Howard Epstein and Theodore Keyes discuss 'Cumis Specialty Insurance Co. v. Kaufman', where the U.S. District Court for the Southern District held that the final adjudication limitation in conduct exclusion cases does not require exhaustion of all appeals.
November 10, 2022 at 12:00 PM
7 minute read
Insurance Law
Directors and Officers (D&O) liability insurance policies typically contain standard conduct exclusions that bar coverage for loss arising out of a deliberately fraudulent or deliberately criminal act or omission or willful violation of law as well as loss arising out of the gaining of any profit to which an insured was not legally entitled. Over the last couple of decades, these conduct exclusions have been narrowed for the benefit of the insureds in a number of ways.
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