United States: Relying On Insolvency Exclusion, Second Circuit Finds That D&O Insurer Not Required To Defend Professional Manager Overseeing Operations Of Distressed Company That Filed For Chapter 7 Bankruptcy - Wiley Rein

The heads of state from Japan, the Philippines, and the United States have jointly expressed "grave concern" regarding China's conduct in the contested South China Sea. Over recent years, Beijing has intensified its presence in this crucial maritime region, leading to heightened tensions, notably with the Philippines. This nation, among others in Southeast Asia, asserts territorial claims over portions of the sea adjacent to its shores. In response to a recent altercation near Second Thomas Shoal that resulted in injuries to Filipino soldiers and damage to vessels, President Ferdinand Marcos of the Philippines declared Manila's intention to enact countermeasures against China. The leaders of Japan, the Philippines, and the United States expressed shared concerns over the People's Republic of China's (PRC) provocative actions in the South China Sea during the inaugural summit held in Washington, DC. This joint statement comes amid escalating tensions in the region. #SouthChinaSea #China #Japan #Philippines #US #Tensions #Diplomacy #InternationalRelations #SecurityConcerns #GeoPolitics ~HT.97~PR.152~ED.102~

The insurer issued a claims-made-and-reported professional liability policy to the insured property development and management company.