Updates/Latest News

USA: D&O Coverage denied for $118 Million DOJ Settlement Because of Professional Services Exclusion – Opinion of COURT OF APPEAL OF THE STATE OF CALIFORNIA, FIRST APPELLATE DISTRICT, DIVISION TWO

Companies offering professional services, particularly, IT/ITES companies should be cautious of any broad/ absolute exclusions like professional service exclusions, cyber exclusions, and pollutions exclusions e...

India: Supreme Court Judgement: M/S Modern Insulators Ltd vs The Oriental Insurance Co. Ltd (Civil Appeal No.-006895-006895 – 1997) (22 February, 2000) – When insurer does not disclose any exclusion to the insured, it cannot enforce the same in the event of a claim.

“It is the fundamental principle of insurance law that utmost good faith must be observed by the contracting parties and good fath forbids either party from non-disclosure of the lads which the parties known. T...

India: Supreme Court judgement: United India Insurance Co. Ltd. Versus M/s Hyundai Engineering & Construction Co. Ltd. & Ors. – Civil Appeal No. 1496 OF 2023(May 16,2024)

“Insurance is a contract of indemnification, being a contract for a specific purpose1, which is to cover defined losses2. The courts have to read the insurance contract strictly. Essentially, the insurer cannot...

RIMS: Fighting Cyber Insurance Denials Over the “Human Factor”RIMS:

Fighting Cyber Insurance Denials Over the “Human Factor”

India: Supreme Court Judgement: COMMISSIONER OF CENTRAL EXCISE BELAPUR APPELLANT(S) VERSUS JINDAL DRUGS LTD. RESPONDENT(S) (CIVIL APPEAL NOS. 788-790 OF 2022 – APRIL 30, 2024) – Does the process labeling/ relabeling amount to manufacturing?

“According to the third member, any one of the three activities referred to in Note 3 i.e. (i) labelling or relabelling, (ii) packing or repacking from bulk and retail packing and (iii) adoption of any other tr...

THOMSON REUTERS: Legal terms glossary

Legal terms glossary

MOODY’S: The 10 major risks shaping insurance today

The 10 major risks shaping insurance today

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)