PNC BANK, N.A. v. AXIS INSURANCE COMPANY et al
Case Number:
2:21-cv-01299
Court:
Nature of Suit:
Judge:
Firms
Companies
- Arch Capital Group Ltd.
- Aspen Insurance Holdings Ltd.
- AXIS Capital Holdings Ltd.
- The PNC Financial Services Group Inc.
Sectors & Industries:
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March 13, 2024
PNC Bank Can't Get $106M Judgment Covered By Insurers
PNC Bank NA is not entitled to coverage by a group of excess insurers for a $106 million judgment it incurred in an underlying lawsuit alleging the bank's predecessor mismanaged funeral trust accounts, a Pennsylvania federal judge ruled Wednesday, saying the policies' exclusions bar coverage in this case.
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September 12, 2022
Insurers Say PNC Bank Isn't Owed $106M Coverage Judgment
A group of excess insurers told a Pennsylvania federal court that coverage isn't owed to PNC Bank for a $106 million judgment it incurred in an underlying lawsuit alleging the bank's predecessor mismanaged funeral trust accounts, arguing coverage isn't extended to the predecessor before the policy period.