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Bear Stearns Settles Liability Claims Without Consent of Carriers, Loses $45 Million in Coverage

Posted By DiscoveryResources.org Editor On June 2, 2008 @ 9:42 am In Case Law & Rules, Governance, Risk & Compliance, Home Page Latest | No Comments

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. [1] Read more from the Common Law Journal here.

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[1] Read more from the Common Law Journal here: http://www.commonlawjournal.com/clj/cnote/459

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