AIG Must Defend $176M Westernbank FDIC Suit, 1st Circ. Says

By Bibeka Shrestha (April 1, 2014, 4:44 PM EDT) -- The First Circuit ruled Monday that AIG Insurance Co. must advance defense costs in the Federal Deposit Insurance Corp.'s lawsuit blaming former directors and officers of Westernbank of Puerto Rico for $176 million of the defunct bank's losses, citing a lack of consensus on the insured-vs.-insured exclusion....

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