In the Matter of the Certification of a question of law from the United States District Court, District of South Dakota, Central Division, 2022 SD 51, 980 NW.2d 229 (SD 8/24/22), a South Dakota court held that SDCL 58-29B-56, which provided that in South Dakota an insurance company liquidator had an additional 180 days to provide notice of a claim, applied to a claims made directors and officers liability policy covering the insolvent insurer’s officers and directors. The Court found that the statute which allowed the liquidator to make a claim under the policy under expiration of the policy period effectively added tail coverage to the policies.
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STATUTORY TAIL COVERAGE IN A CLAIMS MADE POLICY?
On Behalf of Steven Plitt, Expert Insurance Consultant & Witness | Jun 27, 2024 | Firm News