Judge: Intellectual Property Exclusion Bars Coverage; Insured Breached Agreement

Mealey's (April 14, 2020, 11:31 AM EDT) -- HOUSTON — A federal judge in Texas on April 3 held that an insurance policy’s intellectual property exclusion unambiguously barred coverage for an underlying lawsuit alleging that an  insured  bribed and induced a competitor’s employees to wrongfully misappropriate confidential information, further finding that the insured breached the underlying settlement agreement by suing the competitor (Paloma Resources, LLC, et al. v. Axis Insurance Company, et al., No. 18-247, S.D. Texas, 2020 U.S. Dist. LEXIS 58925)....