$80M Ruling Against Ex-IndyMac Execs Bolsters Insurers' Cases

Law360, New York (June 28, 2012, 8:55 PM EDT) -- A California federal judge refused Wednesday to open up a second $80 million set of insurance policies to cover securities litigation against former IndyMac Bancorp Inc. directors and officers, a ruling insurers in other coverage disputes likely will cite in arguing for broad interpretations of what makes claims interrelated enough to be covered under only one policy period.

A coalition of insurers successfully argued that coverage for a slew of securities suits against former executives at failed mortgage lender IndyMac and its subsidiary IndyMac Bank FSB...
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