Delaware Judge: Insurers Have Duty To Defend Officer For Alleged ‘Wrongful Acts’

Mealey's (February 5, 2019, 2:17 PM EST) -- WILMINGTON, Del. — A Delaware judge on Jan. 31 held that insurers have a duty to defend a company’s officer against an underlying lawsuit because his alleged conduct constituted “wrongful acts” under the policies, but they have no duty to defend the company itself because the underlying action is not a “securities claim” (IDT Corp, et al. v. U.S. Specialty Insurance Company, et al., No. N18C-03-032, Del. Super., New Castle Co., 2019 Del. Super. LEXIS 55)....