HOME INSURANCE COMPANY OF ILLINOIS (NEW HAMPSHIRE) V SPECTRUM INFORMATION TECHNOLOGIES INC AND OTHERS

(1997) 6 Re LR 1

United States District Court E D New York Before District Judge Block

Directors’ and officers’ (D & O) insurance - Misrepresentation - Materiality - New York - Whether policy provisions excluded coverage - Whether D & O insurance sufficiently similar to either marine insurance or reinsurance to warrant application of uberrimae fidei rule - Whether applications for D&O renewal and excess insurance required disclosure of SEC “informal” inquiry - Materiality of SEC inquiry to underwriting decisions - Whether policy provisions excluded “claims” - Meaning of “claim” - Whether claims were “first made” during renewal policy period.