Insurer Trims Claims In A&F Derivative Coverage Suit

Law360, New York (March 30, 2011, 6:33 PM EDT) -- Federal Insurance Co. convinced an Ohio federal judge Wednesday to whittle down a lawsuit over its refusal to defend Abercrombie & Fitch Co. in a shareholder derivative suit, nixing a bad faith claim but failing to eliminate breach of contract claims.

After previous losses in the case, Federal has already paid the full $10 million owed to Abercrombie under the policy, but still faced claims for bad faith, breach of contract and declaratory judgment, which could lead to prejudgment interest or punitive damages, according to an...
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