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Reimbursement of Advance Benefits
Insurance companies are often required to decide whether to pay benefits under the policy before sufficient information is known about the claim to determine whether there will ultimately be coverage. So, what happens if it is later discovered that payments were made for non-covered claims? Can an insurer seek reimbursement? Although a plethora of case law exists on an insurer's right to seek reimbursement of defense costs and settlement payments on non-covered claims, rendering mixed results on these issues nationwide, there is a dearth of decisions on reimbursement of advance benefits. Two recent decisions suggest that an insurer can seek reimbursement, albeit under differing theories of law, leaving open the conundrum of how an insurer can preserve its rights. A review of the differing theories allowing recovery and suggestions on how an insurer can protect its rights to reimbursement follows.
Equitable Remedies
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.