Credit Exclusion Bars Directors, Officers Liability Coverage, 5th Circuit Affirms

Mealey's (September 28, 2016, 1:19 PM EDT) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on Sept. 27 affirmed a lower federal court’s finding that a directors and officers liability insurer has no duty to defend executives against an underlying lawsuit alleging that they misrepresented their company's financial status to secure $48.5 million in bank loans (Markel American Insurance Co. v. Huibert Verbeek, et al., No. 15-51099, 5th Cir.; 2016 U.S. App. LEXIS 17563).

(Per curiam opinion available. Document #13-161006-041Z.)

D&O Liability

Markel American Insurance Co. sued Huibert Verbeek and Engelbrecht...
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