This Simpson Thacher & Bartlett LLP memorandum discusses a recent lawsuit arising out of the Deepwater Horizon accident and resulting oil discharges in the Gulf of Mexico; a Georgia Supreme Court ruling regarding an insurer's right to withdraw from a policyholder's defense; two recent decisions addressing an insurer's right to seek reimbursement from co-insurers under theories of equitable subrogation and contribution; a decision enforcing an insurer's right to an appraisal of hurricane-related property damage; a federal court ruling regarding a directors and officers (D&O) insurer's obligation to pay executives' defense costs in connection with an IRS investigation; the Ninth Circuit's enforcement of a "Policy Territory" provision that limited coverage to occurrences that took place outside the US; the Florida Supreme Court's dismissal of a third-party bad faith action against an insurer; the Supreme Court's denial of certiorari in the Textron case on the scope of the work product privilege; the Second Circuit's determination that policyholder information is not entitled to "trade secret" or "confidential" protection; and a report by the New York State Unified Court System regarding electronic discovery.