Insurer Asks High Court To Find Insured Vs. Insured Exclusion Bars FDIC’s Claims

Mealey's (April 27, 2018, 10:01 AM EDT) -- WASHINGTON, D.C. — A directors and officers liability insurer on April 19 asked the U.S. Supreme Court to determine whether claims brought by the Federal Deposit Insurance Corp. in its capacity as receiver of an insolvent bank constitute claims brought “by” or “on behalf of” the bank, seeking a finding that the insured vs. insured exclusion bars coverage for the FDIC’s lawsuit against the bank's former directors and officers (Certain Underwriters at Lloyd's, London v. Federal Deposit Insurance Corporation, et al., No. 17-1451, U.S. Sup.)....