ASG Sues Zurich For Coverage Of Fraud Suits

Law360, New York (June 24, 2010, 5:30 PM EDT) -- America Service Group Inc. has taken Zurich American Insurance Co. to court to obtain coverage for losses racked up in shareholder and derivative lawsuits, including a $10.5 million class action settlement.

The complaint, filed Wednesday in the U.S. District Court for the Middle District of Tennessee, claims Zurich has refused to honor its $5 million directors and officers excess insurance policy, even though the primary insurer has exhausted its coverage.

Despite vowing to provide ASG full coverage without a prior acts endorsement, Zurich never removed the...
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