RSUI Looks To Sink BankUnited Execs' D&O Policy Claims

Law360, New York (May 14, 2012, 8:56 PM EDT) -- RSUI Indemnity Co. told a Florida bankruptcy judge Thursday it is not liable for the defense costs of directors and officers of now-reorganized BankUnited Financial Corp. related to an investor class action and several investigations, saying their alleged misdeeds predated the $10 million policy’s coverage period.

RSUI provided the $10 million in excess D&O liability coverage to BankUnited and subsidiary BankUnited FSB for a one-year period beginning in 2007.

Various permutations of the 23 individuals named in the complaint, all officers or directors of one or...
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