Fidelity Southern Sues For Coverage Of Overdraft Fee Case

Law360, New York (December 12, 2012, 3:37 PM EST) -- Banking company Fidelity Southern Corp. on Monday sued Chartis Specialty Insurance Co. over its denial of coverage for a $1 million settlement of a proposed class action accusing Fidelity of charging consumers excessive interest through overdraft fees.

Fidelity claims in a complaint filed in Georgia federal court that coverage under a wrongful act component of the policy clearly applies to the underlying case and Chartis' refusal to provide it is a breach of contract and an act of bad faith. It says Chartis paid for defense...
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