Federal Judge:  Bump-Up Exclusion Does Not Bar D&O Coverage For $90M Settlement  

Mealey's (October 7, 2021, 2:04 PM EDT) -- ALEXANDRIA, Va. — A federal judge in Virginia on Oct. 5 held that an insurance policy’s bump-up exclusion does not unambiguously preclude coverage for the $90 million settlement of two underlying lawsuits arising from a 2015 merger, granting the insured’s motion for partial summary judgment in its lawsuit seeking directors and officers liability coverage for the underlying settlement....