The Flaws In Ga.'s Insured V. Insured Exclusion Ruling
September 30, 2013, 12:40 PM EDT
Law360, New York (September 30, 2013, 12:40 PM EDT) -- In a recent decision for insured directors and officers of banks and other companies under their directors and officers insurance policies, the United States District Court for the Northern District of Georgia held that the “insured v. insured” exclusion of a failed bank’s D&O policy barred coverage for the bank’s officers in an action brought by the Federal Deposit Insurance Corporation (FDIC) in its capacity as the bank’s receiver.
The result in St. Paul Mercury Insurance Co. v. Miller, et al., 2:12-CV-0225-RWS (Aug. 19, 2013), is...
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