Zurich Wins Spat Over Error-Riddled $10M D&O Policy

Law360, New York (March 17, 2009, 12:00 AM EDT) -- A state court judge has ruled in favor of Zurich American Insurance Co. in a suit with a bankrupt financial services firm over the precise wording of an error-ridden directors and officers insurance policy, upholding a lower court decision that Zurich is liable for no more than $10 million in claims.

In a Superior Court of Pennsylvania ruling, Judge John T. Bender found on Monday that a D&O insurance policy between Zurich and DVI Inc., which filed for bankruptcy in 2003, restricts the insurance company's liability...
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