Angela Elbert, chair of the Insurance Policyholder practice group, was recently quoted in the Law360 Insurance Authority article, “Towers Watson Ruling Energizes Bump Up Supporters, Critics.” This article discusses a decision by a Virginia federal court upholding the "bump-up" exclusion in Towers Watson's directors and officers policy, resulting in insurers no longer being obligated to cover $90 million in shareholder suit settlements related to the company's merger with Willis Group Holdings PLC. This decision has sparked debate between policyholders and attorneys over the exclusion’s interpretation and its implications for coverage in similar cases. Angela provides insight into the challenges caused by this exclusion and suggests alternative methods companies can advocate for to improve the exclusion. Angela also highlights that policyholders should expect clarity regarding what aspects are covered and what are not.

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