Bear Stearns Settles Liability Claims Without Consent of Carriers, Loses $45 Million in Coverage
June 2nd, 2008
New York’s high court has ruled that Bear Stearns violated the terms of its insurance policies by settling an SEC claim without the advance consent of the insurers. The ruling cost Bear Stearns the $45 million in coverage it had been seeking for the settlement. Read more from the Common Law Journal here.
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