D&O보험에서의 타보험조항과 방어비용의 분배 -2011년 미국 뉴욕주 대법원 Fieldston Property Owners Association, Inc. v. Hermitage Insurance Company, Inc. 판결의 평석-

This paper reviews an American case in New York (Fieldston Property Owners Association, Inc. v. Hermitage Insurance Company, Inc., 945 N.E.2d 1013 (N.Y. 2011)) concerning the other insurance clause and the allocation of defense costs in the directors and officers liability insurance (often called D&O insurance) D&O insurance is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. In Fieldston, New York’s highest court began its analysis by looking to the other insurance provisions in the policies. Applying the language of the “other insurance provision in the D&O policy, it determined that the general liability policy was other insurance’ which would cover the loss arising from the defense of the underlying action. Accordingly, it held that the D&O policy was excess and the general liability insurer had the obligation to defend the underlying litigation without contribution from the D&O insurer. As discussed above, this paper presents juridical implications in issues of the Fieldston and points out some counter-arguments.