Executive Summary Blog

Executive Summary Blog

Legal developments affecting professional liability insurers

Tag Archives: Colorado

Bank’s Failure to Submit Proof of Loss Precludes FDIC’s Claim as Receiver Under Crime Bond

Posted in Notice of Potential Claim (Timeliness)
The Court of Appeals for the Tenth Circuit, applying Colorado law, has held that an insurer’s denial of coverage to the Federal Deposit Insurance Corporation (FDIC), standing in the shoes of an insured as receiver, does not violate public policy where the insured’s rights under a policy have not vested.  FDIC v. Kan. Bankers Sur.… Continue Reading

Colorado Supreme Court: No Prejudice Required to Deny Coverage for Settlement Without Consent

Posted in Consent to settle/incur defense costs, Cooperation
The Colorado Supreme Court has held that an insurer had no duty to cover a settlement entered into by an insured regardless whether the insured’s failure to obtain the insurer’s consent prejudiced it in any way. Travelers Prop. Cas. Co. v. Stresscon Co., 2016 WL 1639565 (Colo. Apr. 25, 2016). Wiley Rein represented an amicus… Continue Reading