William G Passannante

May 24, 2024 | New York Law Journal

Recently, several New York courts have held that an insurance company has no right to recoup defense costs where the insurance policy includes a duty to defend, but does not include an express contractual provision allowing for recoupment.

By Raymond A. Mascia Jr. and William G. Passannante

9 minute read

October 01, 2023 | New York Law Journal

In the authors' experience, insurance companies interpret the bump-up exclusion far too broadly and beyond the insurance industry's purported intent behind the exclusion. D&O policyholders should be prepared to resist such coverage denials.

By William G. Passannante and Raymond A. Mascia Jr.

12 minute read

September 30, 2022 | New York Law Journal

The right to independent counsel protects the policyholder's interests against conflicted representation.

By William G. Passannante and Madison Marlow

9 minute read

September 15, 2021 | New York Law Journal

In a case currently scheduled for argument on Oct. 6, 2021, before the New York Court of Appeals, 'J.P. Morgan Securities v. Vigilant Insurance Company', the Court of Appeals has an opportunity to join the majority of states and continue to modernize New York insurance common law.

By William G. Passannante

7 minute read

May 21, 2021 | New York Law Journal

Because SPACs present novel issues, we expect both plaintiff's lawyers and insurance companies to take some creative positions not always helpful to D&O policyholders.

By William G. Passannante

8 minute read

October 11, 2019 | New York Law Journal

The transition in progress from the "profits only" approach of Friedman to an ethos embedded in the legislation proposed by Senator Warren and the public statements of CEO's of public companies will alter corporate behavior and so, inevitably, the D&O liability and insurance landscape.

By William G. Passannante

9 minute read

October 14, 2017 | New York Law Journal

William G. Passannante and Carrie Maylor DiCanio provide some strategies to obtain the coverage purchased and facilitate efficient resolution of R&W insurance disputes.

By William G. Passannante and Carrie Maylor DiCanio

7 minute read

October 14, 2017 | New York Law Journal

Mina Matin writes: The "known loss" principle, under New York Law, is the recognition of the universal public policy that insurance should only cover fortuitous losses. This article explores this principle as it relates to third party liability and excess liability policies, and discusses its practical implications.

By William G. Passannante and Carrie Maylor DiCanio

9 minute read

January 26, 2016 | The Legal Intelligencer

Corporate deal lawyers had for many decades designed corporate acquisitions and divestitures on the long-held foundation that historical rights to insurance proceeds were freely assignable, and that the rights to the proceeds of liability insurance could freely follow the liabilities.

By William G. Passannante, Cort T. Malone and Bruce Strong

11 minute read

December 14, 2015 | New York Law Journal

William G. Passannante, Cort T. Malone and Bruce Strong of Anderson Kill write: The 2003 decision in 'Henkel Corp.' severely impeded companies involved in corporate acquisitions and divestitures by enforcing consent-to-assign clauses even though policy periods had expired and the right to insurance already had accrued. In 2015, California reversed course in 'Fluor' and restored the ability of corporations to freely assign the rights available under insurance policies after a loss.

By William G. Passannante, Cort T. Malone and Bruce Strong

11 minute read