No Coverage For Counterclaims Against Credit Union, 8th Circuit Affirms

Mealey's (July 12, 2021, 2:07 PM EDT) -- ST. LOUIS —The Eighth Circuit U.S Court of Appeals on July 9 affirmed a lower federal court’s finding that there was no possibility of commercial general liability coverage for a credit union insured’s damages incurred litigating and settling an underlying consumer class action because alleged "loss of use” damages were not caused by an “occurrence” and all alleged damages stemmed from the insured’s provision of credit union financial services that are unambiguously excluded from coverage....