Updates/Latest News

World Economic Forum : The Global Risks Report 2024

The Global Risks Report 2024 ; 19th Edition

India: NCDRC: Judgement: Bank held liable for delay in insurance purchase

SBI Vs Saraswati Paul:  “In view of the foregoing, it is manifest that the petitioner Bank erred in delaying in obtaining the insurance cover on behalf of the respondent/complainant. This was a defic...

JD Supra: Major Ruling: Illinois Supreme Court Provides Clarity and Changes Precedent on CGL Coverage for Defective Work (Positively Affecting Real Estate Developers and Community Associations)

India: Supreme Court: Judgement- Saurashtra Chemicals Ltd. (Presently known as Saurashtra Chemicals Division of Nirma Ltd.) VERSUS National Insurance Co. Ltd.

It is a settled position that an insurance company cannot travel beyond the grounds mentioned in the letter of repudiation. Link to the judgement here

JDSUPRA: The Ins and Outs of D&O Indemnification Agreements

INDIA ; SUPREME COURT: NEW INDIA ASSURANCE CO. LTD. & ORS. APPELLANTS VERSUS M/S. MUDIT ROADWAYS RESPONDENT: JUDGEMENT

“In the realm of risk and uncertainty, individuals and organisations seek solace in the bastion of insurance – a covenant forged on the bedrock of trust. Trust serves as the cornerstone, forming the essence of ...

India:  Arbitration Clause in General Insurance policies – IRDAI circular dated 27th October 2023

“I. All policies issued under the Retail Lines of Business shall not have any Arbitration Clause. II. All policies issued under the Commercial Lines of Business shall have an Arbitration Clause as under: “The p...

India: Insurance Policy – Non communication of exclusion clause – Judgement- Anju Kalsi VS HDFC Ergo General Insurance Respondents Company Limited and Another

“The terms of the insurance cover had to be specifically communicated to the account holder.” “unless the respondents were able to establish on a cogent basis that the special conditions of the policy which was...

USA: Should You Require a Specific Endorsement Naming Your Client as an Additional Insured?

Importance of Order of Payments Provision in a D&O policy : Judgement in In re: SVB Fin. Group, No. 23–10367  (Bankr. S.D. N.Y. May 22, 2023).

MEMORANDUM OPINION GRANTING MOTION TO ALLOW ADVANCEMENTAND PAYMENT OF INSUREDS’ DEFENSE COSTS UNDER D&O POLICIES