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Panel: Contractual Liability Exclusion Bars Directors, Officers Liability Coverage

Mealey's (August 8, 2016, 10:39 AM EDT) -- SEATTLE — The Ninth Circuit U.S. Court of Appeals on Aug. 3 affirmed a lower federal court’s ruling that a directors and officers liability insurer has no duty to defend its insured against an underlying lawsuit arising from the insured’s termination of a technology license agreement (TLA), finding that coverage is barred by the policy’s contractual liability exclusion (X2 Biosystems Inc. v. Federal Insurance Co., No. 14-35125, 9th Cir.; 2016 U.S. App. LEXIS 14153).

(Memorandum available. Document #13-160818-001Z.)

Duty Of Disclosure

X2 Biosystems Inc. of Seattle...
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