context: There can be little good faith disagreement that the so-called "notice"-- stating only "[t]his is just for notice purposes as this has been discontinued and there are no allegations" (UF No. 11)-- inadequately complies with the policy's requirements of notice of Wrongful Act(s) Granted, the Summons with Notice alleged breach of contract or fiduciary duty, but provided no information regarding the particular acts which led to the lawsuit being filed, the people who committed the acts and when the underlying acts occurred.
citation_a.signal: see
citation_a.identifier: 838 F.Supp. 1125, 1130
citation_a.parenthetical: holding notice insufficient because it merely recited the language of the policy's notice provision and provided no information regarding "the types of practices alleged to constitute 'wrongful acts,' the agents, officers, or directors alleged to be involved in wrongdoing, or the time period during which the allegedly wrongful acts took place"
citation_a.sentence: See F.D.I.C. v. Caplan, 838 F.Supp. 1125, 1130 (W.D.La.1993) (holding notice insufficient because it merely recited the language of the policy’s notice provision and provided no information regarding “the types of practices alleged to constitute ‘wrongful acts,’ the agents, officers, or directors alleged to be involved in wrongdoing, or the time period during which the allegedly wrongful acts took place”); see also McCullough v. Fid. and Deposit Co., 2 F.3d 110, 113 (5th Cir.1993) (holding that insured informing insurer that it had received a cease and desist order was insufficient notice because it did not detail the “particular subsidiary involved, the particular agents, officers, or directors involved, the time period during which the events occurred, the identity of potential claimants, and the specific unsound practices made the basis of the order”).
citation_b.signal: see also
citation_b.identifier: 2 F.3d 110, 113
citation_b.parenthetical: holding that insured informing insurer that it had received a cease and desist order was insufficient notice because it did not detail the "particular subsidiary involved, the particular agents, officers, or directors involved, the time period during which the events occurred, the identity of potential claimants, and the specific unsound practices made the basis of the order"
citation_b.sentence: See F.D.I.C. v. Caplan, 838 F.Supp. 1125, 1130 (W.D.La.1993) (holding notice insufficient because it merely recited the language of the policy’s notice provision and provided no information regarding “the types of practices alleged to constitute ‘wrongful acts,’ the agents, officers, or directors alleged to be involved in wrongdoing, or the time period during which the allegedly wrongful acts took place”); see also McCullough v. Fid. and Deposit Co., 2 F.3d 110, 113 (5th Cir.1993) (holding that insured informing insurer that it had received a cease and desist order was insufficient notice because it did not detail the “particular subsidiary involved, the particular agents, officers, or directors involved, the time period during which the events occurred, the identity of potential claimants, and the specific unsound practices made the basis of the order”).