National Union Loses Bid To Evade $40M Cox Deal

Law360, New York (April 13, 2010, 1:47 PM EDT) -- Television, phone and Internet services provider Cox Communications Inc. has defeated a bid by National Union Fire Insurance Company of Pittsburgh, Pa., to avoid paying for a $40 million settlement that ended securities litigation over a bankrupt Internet provider that Cox partially controlled.

Judge Thomas Thrash Jr. of the U.S. District Court for the Northern District of Georgia denied National Union's motion for summary judgment Friday, saying prior notice and outside entity exclusions in the directors and officers policy do not bar coverage.

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