Zurich Aims To Duck Coverage In 4 Contract Suits

Law360, New York (August 9, 2011, 1:18 PM EDT) -- Zurich American Insurance Co. sued a real estate operator in Illinois state court on Monday claiming its directors and officers policies do not cover four underlying breach of contract lawsuits, including one brought by Bank of America Corp.

DDL LLC has submitted the underlying suits, filed in Illinois and Wisconsin state courts, to Zurich for coverage, but the insurer is seeking a declaration from the court that it does not have to cover them under the policies.

The policies at issue in all four suits are...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.