Insurance

08 June 2021

'Additional insured' coverage and multiple insurers: duty to defend and allocation of defence costs

Insureds which suffer a loss may find that they are covered by multiple insurance policies for that loss. Such situations can arise inadvertently, or the existence of multiple overlapping policies may be by design. A number of issues may arise with the duty to defend, where there are overlapping or concurrent insurance policies. This article focuses on the duty to defend and how the courts allocate defence costs.

Lawrence Theall Authors: Lawrence Theall | Callum Micucci

Canada | Theall Group LLP

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Employee stock options: IRDAI issues clarifications

The issuance of employee stock options (ESOPs) to CEOs, whole-time directors and managing directors of insurers has been expressly recognised since 2016. Now, the Insurance Regulatory and Development Authority of India has issued a circular to clarify the requirement to obtain its prior approval with regard to the exercise of ESOPs. Going forward, insurers are likely to take a more pragmatic approach and consider the logistics of obtaining regulatory approvals (if applicable) with regard to ESOPs.

Shubhangi Pathak Authors: Shubhangi Pathak | Priya Misra

India | Tuli & Co

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Recent updates

'Additional insured' coverage and multiple insurers: 'other insurance' clauses

Lawrence Theall Authors: Lawrence Theall | Callum Micucci

Canada | Theall Group LLP

New guidelines a turning point for large-risks insurance market

Geoffrey Conlin Authors: Geoffrey Conlin | Bernardo de Senna

Brazil | CAL - Costa, Albino & Lasalvia Advogados

Construction all risks insurance – challenges with LEG3 coverage

Christian Werenberg Author: Christian Werenberg

Denmark | WSCO Advokatpartnerselskab

Do not leave your package unattended

Carsten Vyvers Author: Carsten Vyvers

Germany | Arnecke Sibeth Dabelstein