No D&O Coverage Owed For Untimely Notice Of Money Laundering Suit, Panel Affirms

Mealey's (September 6, 2022, 1:19 PM EDT) -- PHILADELPHIA — The Third Circuit U.S. Court of Appeals on Aug. 31 affirmed a lower federal court’s dismissal of insureds’ lawsuit seeking directors and officers liability coverage for an underlying lawsuit alleging they perpetuated a money laundering scheme, finding that the insurer does not have to show prejudice to enforce the policy’s notice requirement....