Patriarch Partners Decision Confirms Government Subpoenas May Constitute a “Claim” Under D&O Policy; Warns Policyholders to Think Broadly When Representing Facts and Circumstances to Insurers

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Hunton insurance lawyers Mike Levine, Sergio Oehninger and Josh Paster discuss the impact of the Second Circuit’s recent opinion in Patriarch Partners, LLC v. Axis Insurance Co.

January 8, 2019
Michael S. Levine, Sergio F. Oehninger, & Joshua S. Paster - Hunton Andrews Kurth

The Second Circuit recently confirmed in Patriarch Partners, LLC v. Axis Insurance Co. that a warranty letter accompanying the policyholder’s insurance application barred coverage for a lengthy SEC investigation, which ripened into a “Claim” prior to the policy’s inception date. The opinion left intact the lower court’s finding that the SEC subpoena constituted a “demand for non-monetary relief” and thus qualified as a “Claim” under the directors and officers (D&O) insurance policy.

Reprinted courtesy of Hunton Andrews Kurth attorneys Michael S. Levine, Sergio F. Oehninger and Joshua S. Paster
Mr. Levine may be contacted at
Mr. Oehninger may be contacted at
Mr. Paster may be contacted at


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