MBIA Slaps Lloyd's, Others With Lawsuit In NY

Law360, New York (March 14, 2014, 7:35 PM EDT) -- Bond insurer MBIA Inc. on Friday sued Certain Underwriters at Lloyd's, London and two other insurers in New York federal court in an attempt to win coverage for lawsuits challenging its restructuring, as well as its handling of insurance for public finance bonds and sale of municipal derivatives.

MBIA asked the federal court to order Lloyd's, Lexington Insurance Co. and Wurttembergische Versicherung AG to provide coverage under financial institutions professional indemnity policies for the tens of millions of dollars it has spent to defend and settle...
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