We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

St. Paul Tries To Dodge $27M BNC Claim

Law360 (October 22, 2010, 2:14 PM EDT) -- St. Paul Mercury Insurance Co. has filed suit against BNC Corp. Inc. in an effort to avoid having to pay a $27 million coverage claim from the bank holding company related to an underlying fraud dispute with a servicing contractor.

The insurer sued BNC in the U.S. District Court for the District of Arizona on Wednesday, seeking a declaration that it owed no duty to pay out on a $5 million excess insurance policy.

At the very least, St. Paul argues it owes nothing until BNC...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.