2nd Circ. Lets Excess Insurers Off Hook In D&O Liability Spat

Law360, Los Angeles (June 4, 2013, 4:09 PM EDT) -- The Second Circuit ruled against former directors and officers of defunct computer technology company Commodore International Ltd. on Tuesday in a suit against their excess insurers, affirming a lower court’s finding that excess policies aren’t triggered until payment is made by primary insurers.

In September 2011, U.S. District Judge Richard J. Sullivan ruled in favor of Federal Insurance Co. and fellow excess insurance provider Travelers Casualty and Surety Co., granting their motions for judgment on the pleadings seeking a declaration that their policies do not require...
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