Insurance Bites EP6: D&O defence costs: the Court of Appeal decision in Liberty Managing Agency v Chedid

In this episode of Insurance Bites, Hamish Hunter and Kate Mann, Senior Associates in the Insurance & Professional Risks team, report on the appeal in Liberty Managing Agency Limited v Chedid which considered whether allegations of fraud against directors or officers permit a D&O insurer to withdraw cover, or whether the insurer must wait for independent determination. This is a critical question for an insured policyholder as it may determine whether they have the resources to mount a proper defence to the allegations. Our article on the first instance decision can be seen here on our Insurance Notes blog.