Insurer Says Fla. Bank Execs Aren't Covered In FDIC Suit

Law360, Miami (October 17, 2013, 7:15 PM ET) -- Progressive Casualty Insurance Co. launched a suit Wednesday in Florida federal court seeking a ruling that it is not responsible for indemnifying former executives of Riverside National Bank of Florida in an $8 million suit brought by the Federal Deposit Insurance Corp.

Progressive brought the suit against the FDIC in its capacity as receiver of the Fort Pierce, Fla., bank, which the agency took over shortly after the bank's collapse in 2009. Progressive is also seeking declaratory judgments finding that the FDIC's claims are not covered...
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Case Title

Progressive Casualty Insurance Company v. Federal Deposit Insurance Corporation et al


Case Number

1:13-cv-23758

Court

Florida Southern

Nature of Suit

Insurance

Judge

Donald L. Graham

Date Filed

October 16, 2013

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