Panel Partly Reverses Ruling In Directors, Officers Liability Coverage Dispute

Mealey's (March 13, 2017, 9:17 AM EDT) -- LOS ANGELES — In reversing a lower court in part, a California appeals panel on March 8 held that although a directors and officers liability insurance policy’s “Willful Misconduct Exclusion” barred coverage for losses brought about by fraud or criminal acts, the exclusion did not apply to defense expenses (Mitchell J. Stein v. Axis Insurance Company, et al., No. B265069, Calif. App., 2nd Dist., Div. 1, 2017 Cal. App. Unpub. LEXIS 1628)....