OneBeacon Can't Battle FDIC In Ga. Over D&O Coverage

Law360, New York (March 7, 2014, 5:33 PM EST) -- A Georgia federal judge on Wednesday held for the second time that a 1989 federal law blocked him from deciding whether OneBeacon Midwest Insurance Co. owed coverage for the Federal Deposit Insurance Corp.'s claims that former directors and officers of a failed bank caused $15 million in losses.

Rejecting OneBeacon's request for reconsideration, U.S. District Judge Richard Story stuck to his March 2013 holding that the court lacked jurisdiction over the coverage fight because of a broadly worded provision in the Financial Institutions Reform, Recovery and...
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