Insurer Off Hook For Impac's Defense In RMBS Lawsuits

Law360, New York (March 1, 2013, 2:42 PM EST) -- A California federal judge found Tuesday that Houston Casualty Co. wasn't obligated to front defense costs to Impac Mortgage Holdings Inc. under a directors and officers policy for a trio of actions over its purported mishandling of mortgage-backed securities offerings.

U.S. District Judge Josephine Tucker ruled in favor of Houston in a disputed interpretation of what constitutes a covered security under its policy with Impac, which covers the company only with respect to securities claims. While Impac argued that any security it bought and sold should...
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.