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To Settle or Not
Many policyholders have large deductibles or retentions in their liability policies. Insurers that agree to defend policyholders against a claim falling within the coverage of a liability policy typically also want to control the litigation strategy and/or settlement discussions. What happens when the insurer wants to settle a claim within the deductible or retention amount, making the policyholder liable for the entire settlement, but the policyholder does not want to settle? Does the insurer have to obtain consent of the policyholder before settling the claim? While the scenario seems to present an academic question, the reality is that given the large amount of retentions and deductibles that are common today, policyholders and insurers often disagree about whether a case should be settled. As described below, the answer to the question of who decides whether to settle a case within a policy retention or deductible will depend upon the specific policy language at issue and the applicable state law.
The Effect of a Reservation of Rights
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.