Insurance Covers a Lot but not Every Possible Cause or Loss

0
3K

No Coverage for Qui Tam Suit Filed Before Inception of Policy

Read the full article at https://www.linkedin.com/pulse/investigation-qui-tam-suit-covered-do-policy-barry-zalma-esq-cfe and at https://zalma.com/blog plus more than 3900 posts. 

Responding to lawsuits and investigations is expensive (even when they are without merit). That reality became clear when Plaintiff Springstone, Inc. incurred substantial legal fees responding to a government subpoena based on a sealed qui tam lawsuit. Springstone thought it had purchased insurance from Defendant Hiscox Insurance Company, Inc. to cover it from certain legal claims, including the expenses of dealing with the government. In Springstone, Inc. v. Hiscox Insurance Company, Inc., No. 20-6014, United States Court of Appeals, Sixth Circuit (September 17, 2021) the Sixth Circuit was asked to compel an insurer to pay for defense costs resulting from a whistleblower law suit that Hiscox proved to the trial court it was not covered.

ZALMA OPINION

Springtone learned, by this litigation, that no insurance policy covers every possible incident that might cost the insured money to defend every possible event. In addition, a D&O policy is claims made and there is no right to recover if the suit was filed – as was the qui tam suit, before the policy came into effect. Insurance covers a lot but not everything.

Sponsorizzato

We are 100% funded for October.

Thanks to everyone who helped out. 🥰

Xephula monthly operating expenses for 2024 - Server: $143/month - Backup Software: $6/month - Object Storage: $6/month - SMTP Service: $10/month - Stripe Processing Fees: ~$10/month - Total: $175/month

Xephula Funding Meter

Please Donate Here

Cerca
Categorie
Leggi tutto
Literature
The Roast of Mark Zuckerberg by his own AI creation.
Carefully counting at the meticulous copies of code, spreadsheets, and mud from the dirty...
By Rock IXOYE 2020-01-17 17:22:32 1 5K
Altre informazioni
Criminal Sexual Abuse of Students Excluded
Criminal Sexual Abuse of Students Excluded Read the full article at https://lnkd.in/grEsE2pH and...
By Barry Zalma 2023-03-16 12:56:47 0 5K
Altre informazioni
To Deal With Construction Defects You Must Understand Construction
A Video Explaining Some of the Construction of a Dwelling Read the full article at...
By Barry Zalma 2021-07-20 12:59:58 0 3K
True Crime
True Crime of Insurance Fraud Video Number 58
The Bookkeeper's Attempt at Fraud FailsRead the full article at https://lnkd.in/gGFs-Xxr and see...
By Barry Zalma 2022-04-20 13:20:37 0 3K
Home
WE ARE THERE NOW
For darkness will be preferred to light; it will be thought better to die than to live; none will...
By Nibbie Chase 2020-05-31 19:13:33 0 3K