1st Circ. Turns Down School's Bid For D&O Coverage

Law360, New York (October 24, 2013, 6:55 PM EDT) -- The First Circuit held Wednesday that a Tokio Marine North America Inc. insurer has no duty under a directors and officers policy to cover a school director against claims he reeled in a key donation through misrepresentations.

According to the decision, Philadelphia Indemnity Insurance Co. was not obligated to pay for the defense and settlement of a lawsuit in which two parents accused the Clark School for Creating Learning Inc. and its director, Jeffrey Clark, of not following through on promises attached to a $500,000 donation...
To view the full article, register now.