Unanimous Supreme Court Sides with IRS that a Corporation’s Redemption Obligation Is Not a Liability That Offsets the Value of Life Insurance Owned by the Corporation

Unanimous Supreme Court Sides with IRS that a Corporation’s Redemption Obligation Is Not a Liability That Offsets the Value of Life Insurance Owned by the Corporation

The Supreme Court resolved unanimously a common estate tax issue for many closely-held companies. The issue in Connelly v. United States was “whether the corporation’s obligation to redeem [a deceased shareholder’s shares] was a liability that decreased the value of those shares.” The court concluded it was not. Family-owned companies will often purchase life insurance […]

Recent D&O Claims Developments

Recent D&O Claims Developments

The D&O claims environment is now in an unusually uncertain state. A fragile U.S. economy, a struggling global economy, high inflation and interest rates, a tight labor market, the collapse of several large crypto firms, and unpredictable fuel costs will likely create a material increase in D&O claims activity in a wide variety of industries. […]

Insurance Issues Arising After Mass Shooting Occurrences

Insurance Issues Arising After Mass Shooting Occurrences

There is no question that mass shooting incidents in this country are unfortunately continuing at a staggering pace. As of April 29, the crowd-sourced “Mass Shooting Tracker” project, which considers a mass shooting to include a single incident in which four or more people are shot in any incident, lists 163 incidents that fit this […]

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Anatomy of a Phyrric Victory: Did Defendant Goodyear Tire and Plaintiff CODA Development Both Lose a $65 Million Trade Secrets Case?

Last week, a jury hit Goodyear Tire & Rubber with a $65 million verdict in a trade secrets case in Akron presided over by U.S. District Court for the Northern District of Ohio Judge Sara Lioi. On its face, one... Read More

IP Symbols: What They Mean, Why They Matter and What They Protect

Intellectual property generally refers to the rights and interests of the owners and creators of original materials and inventions. Protection of IP has become vitally important in business. IP intensive industries account for over 40 percent of the United States... Read More

Harlan Louis Presents Changes Introduced by House Bill 126

House Bill 126 is set make sweeping changes to the process of local governments contesting property tax values Join Harlan Louis along with the Ohio State Bar Association's Legislative Counsel, Scott Lundregan on Tuesday, June 21 from 12:00 PM-1:00 PM as they discuss the dramatic... Read More

Professional Services: Where Do You Draw the Line

Elan Kandel and Jim Young recently co-authored an article examining issues relating to the Professional Services Exclusion found in many private company D&O insurance policies. Directors and officers (“D&O”) insurance policies typically exclude coverage for claims based upon or arising... Read More

Dan Bailey Addresses New Delaware Statute Permitting Captives in Lieu of Traditional D&O Insurance

Chair, Dan Bailey joins a panel of leading industry experts for a discussion of this important topic. Watch Now Read More

Litigation Risks and Insurance Issues for SPAC Sponsors

Over the past two years, special purpose acquisition companies (“SPACs”) have become a popular means of taking private companies public. SPACs accounted for 247 public listings in 2020 (52% of all initial public offerings (“IPOs”) for that year) and 613... Read More

Creating a Charitable Legacy

Member, Harlan Louis and Jackie Jacobs, executive director emeritus at the Columbus Jewish Foundation were recently asked by Columbus Jewish News to explain the nuances of nonprofit estate plans and how to best guide donors through the process of charitable... Read More

Estate Planning for Young Adults

Although some young adults may not have any children or real estate, all young adults need to think about who they want to designate as decision-makers if they pass away or cannot make decisions for themselves.  All young adults should... Read More

The Year in Review: 2021 Key D&O Insurance Coverage Decisions

It goes without saying that the existence of a “claim” is a fundamental requirement to claims-made coverage, and what falls within the scope of a particular policy’s definition of a “claim” is a question that frequently arises in D&O coverage... Read More

What is Unclaimed Property and Why Does it Matter to Your Business?

Every state in the U.S. has some form of an unclaimed property law (“UPL”). State UPLs generally require businesses that are holding property due and owing to another (i.e. usually money) to hand over that property to the appropriate state... Read More

D&O Risks and Challenges for Pharmaceutical Companies and their Insurers

Over the past several decades, pharmaceutical companies have emerged as favored targets for securities class actions. As a result of that trend, the stakes are high for D&O insurers as well as pharmaceutical companies seeking to purchase D&O coverage. This... Read More

Recent D&O Claims Developments

The D&O claims environment is now in an unusually uncertain state. Record high inflation, interest rate increases, supply chain disruptions, tight labor market, the collapse of several large crypto firms, and higher fuel costs, as well as the prospects of... Read More

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