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Fraud exclusion bars coverage for suit against bank regarding life insurance premium loans
- Wiley Rein LLP
- -
- USA
- -
- April 18 2013
The United States District Court for the Central District of California has held that no coverage is available for a suit against an insured bank
No coverage for breach of contract claims
- Wiley Rein LLP
- -
- USA
- -
- February 14 2013
A federal district court, applying Florida law, has held that a loan company was not entitled to coverage under an errors and omissions policy for
Court finds ambiguity applying insured v. insured exclusion to FDIC lawsuit
- Wiley Rein LLP
- -
- USA
- -
- January 15 2013
The United States District Court for the Northern District of Georgia has denied in part a motion summary judgment by the directors and officers
Federal court exercises jurisdiction over insurer’s declaratory judgment action arising out of FDIC demand
- Wiley Rein LLP
- -
- USA
- -
- December 17 2012
The United States District Court for the Eastern District of California, applying California law, has concluded that it should exercise jurisdiction under the federal Declaratory Judgment Act to determine the availability of coverage for a written demand and has held that the related coverage action should not be stayed in favor of potential future underlying litigation between the Federal Deposition Insurance Corporation (FDIC) and the insureds because the outcome of the coverage litigation would not be dependent on resolution of disputed facts in such a future action
Insured versus Insured exclusion held inapplicable to FDIC’s failed bank suit
- Wiley Rein LLP
- -
- Puerto Rico, USA
- -
- November 1 2012
A Puerto Rico federal district court has declined to apply a D&O policy’s Insured versus Insured exclusion to a suit brought by the Federal Deposit Insurance Corporation (FDIC) against former directors and officers of a failed bank
Georgia bankruptcy court: FDIC may sue officer of failed bank, notwithstanding his bankruptcy, if defense and recovery limited to D&O insurance
- Wiley Rein LLP
- -
- USA
- -
- August 28 2012
A Georgia bankruptcy court has held that notwithstanding the discharge of an individual in his individual bankruptcy proceeding, the Federal Deposit Insurance Corporation (FDIC) may file suit against the individual as a former officer of a failed bank so long as the applicable D&O policy covers defense costs and the FDIC’s recovery is limited to insurance proceeds
Suit against lawyer for return of loaned funds does not seek damages
- Wiley Rein LLP
- -
- USA
- -
- August 13 2012
The United States District Court for the Eastern District of Wisconsin, applying Wisconsin law, has held that a suit by a client against a lawyer for the return of amounts loaned by the client to the lawyer did not constitute “damages”
FIRREA bars insurer's counterclaims for rescission and declaratory judgment
- Wiley Rein LLP
- -
- USA
- -
- July 26 2012
The United States District Court for the Northern District of Illinois has dismissed an insurer’s counterclaims against the FDIC for rescission and declaratory judgment related to a fidelity bond and a D&O insurance policy issued to a defunct bank
Policies' interrelated claims, prior notice and prior litigation provisions bar coverage for multiple lawsuits arising out of bank's collapse
- Wiley Rein LLP
- -
- USA
- -
- June 27 2012
The United States District Court for the Central District of California has granted summary judgment in favor of Side A and traditional directors and officers liability insurers, holding that a number of lawsuits involving the former directors and officers of a failed bank holding company and its bank subsidiary were deemed made in the first of two claims-made policy periods and otherwise excluded from coverage under the second insurance tower
Court finds that a demand to fulfill a contract is not a claim
- Wiley Rein LLP
- -
- USA
- -
- June 21 2012
A federal district court in California has granted an insured’s motion for summary judgment, holding that a letter demanding that an insured confirm its intention to fulfill the insured’s contractual obligations did not constitute a “claim” under the insurance policy
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