The Bureau of National Affairs recently wrote an article about a new court decision discussing directors and officers insurance coverage for officers of Stanford Financial Group.

In the BNA Corporate Accountability Report, reporters Tom Edmondson and Tina Chi discussed the decision Pendergest-Holt v.
Certain Underwriters at Lloyd’s of London, No. 10-20069 (5th Cir. Mar. 15, 2010). (BNA has made the full text of the decision available here.) In the lede, Mr. Edmondson and Ms. Chi explained:

The Fifth Circuit’s recent ruling in Pendergest-Holt v. Certain Underwriters at Lloyd’s of London underscores the importance of the wording of the prerequisite provisions in the conduct exclusions in directors and officers insurance policies, corporate insurance attorneys told BNA in recent interviews.

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