D&O & Financial Institution Liability
We act as coverage and monitoring counsel to insurers in high-stakes D&O and financial institution coverage matters.
“A distinguished leader in the D&O insurance space.”
– Client, Chambers USA
Our practice spans securities class actions, derivative suits, M&A litigation, regulatory investigations, and bankruptcy-driven coverage disputes. We advise on the legal exposure of directors and officers at public and private companies, assess damages in securities cases, and evaluate claims brought against private equity firms, hedge funds, and other financial institutions. We have won the issues that decide these matters: the scope of covered Loss, related-claims and changes-in-exposure provisions, allocation across primary and excess towers, and exclusion interpretation.
D&O & Financial Institution Liability
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Achieved a favorable Fourth Circuit ruling that related securities and derivative claims are a single “claim” under directors and officers policies, limiting coverage to a single tower of insurance and reversing a trial court ruling in insured’s favor. Navigators Ins. Co. v. Under Armour, Inc., 165 F.4th 171 (4th Cir., 2026).
Won summary judgment in the trial court and an affirmance by the Seventh Circuit applying the “bump-up” carve-out from the definition of “Loss” to settlements of shareholder lawsuits challenging the acquisition of the insured by another company for an allegedly inadequate price. Joy Global Inc. v. Columbia Cas. Co., 21-2695 (7th Cir., 2023).
Obtained Delaware Supreme Court ruling that the related-claim exclusion barred coverage for an underlying securities action against a solar panel manufacturer, rejecting a judge-made “fundamentally identical” test for relatedness that had been applied in numerous prior Delaware trial court decisions. First Solar, Inc. v. National Union Fire Ins. Co., 274 A.3d 1006 (Del., 2022).
Who We Are
Tyka is led by attorneys who have spent their careers at the vanguard of insurance coverage. Our experience, individual and collective, informs everything we do.
Our Expertise
Our practice spans every major line of commercial insurance, anchored to five core areas.