Analysis

Dole's Win Bolsters Del. Corporations In D&O Coverage Fights

By Jeff Sistrunk (March 5, 2021, 5:18 PM EST) -- The Delaware Supreme Court issued a landmark ruling March 3 that state law does not excuse a Dole directors and officers insurer from covering the food company's settlements of fraud-based claims, a decision that will aid other Delaware corporations in similar disputes with their D&O carriers.

The unanimous Delaware high court upheld several rulings by a state court judge that resulted in RSUI Indemnity Co. having to pay out the full $10 million limit of an excess directors and officers policy it issued to Dole Food Corp., plus more than $2.3 million in interest. Dole and its CEO, David Murdock, pursued RSUI...

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