Cincinnati Insurance Settles Bank Indemnification Suit

Law360, New York (June 1, 2009, 12:00 AM EDT) -- The Cincinnati Insurance Co. has reached a settlement with a Pennsylvania bank in a dispute over the insurer's duty to defend and indemnify the bank in securities suits brought by three school districts.

The parties filed a joint stipulation Monday in the U.S. District Court for the Eastern District of Pennsylvania, asking Judge Mary A. McLaughlin to dismiss with prejudice all of the claims and counterclaims brought in the suit, without costs, expenses or attorneys' fees.

Further details of the settlement were not immediately available....
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