7th Circ. Says Emmis' Defense Costs Fell Under AIG Exclusion

Law360 (July 2, 2019, 8:53 PM EDT) -- An AIG unit rightfully denied Emmis Communications Corp. coverage for a shareholder suit, because the radio broadcasting company had already reported the suit to its previous insurer, the Seventh Circuit held Tuesday.

The company's policy with AIG's Illinois National Insurance Co. contained an exclusion barring coverage for any losses in connection with claims of circumstances "as reported" under its previous policy with Chubb Insurance Co. In a succinct, three-page opinion, the appellate court said the case was resolved on a single issue: the meaning of "as reported" in the insurer's exclusion.

"The phrase has no discernable temporal limitations," the panel said....

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