Twin City Says It Needn't Cover PE Firms In Contract Fight

Law360, New York (June 26, 2013, 5:04 PM EDT) -- Twin City Fire Insurance Co. on Monday hit private equity firms Paine & Partners LLC and Fox Paine & Co. LLC with a lawsuit seeking a declaration it has no duty to cover the companies in several contract disputes because no wrongful employment practice claims are involved.

The insurance company says that, because it covers both parties, it can deny coverage under an "insured versus insured" exclusion, and that the exclusion applies because there are no wrongful termination claims in the case.

The dispute arose when...
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