Press Releases - Fiduciary

October 15, 2007
COVERAGE DEVELOPMENTS: FIDUCIARY “STOCK DROP” CLAIMS PDF
There have been recent court decisions which have sparked great concern over insurers denying investment loss claims (e.g. “stock drop” claims) on the grounds that they involve “benefits.”  This concern stems from the recent Guidant1and Conexant2case scenarios where plaintiffs—with pension plans involving company stock—alleged that the value of the account was lower than it should be had it not been for a breach of fiduciary duty.  The specific breach of fiduciary duty asserted involved the decision to grant investment in company stock.

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