Prior Acts Exclusion Does Not Relieve Excess Insurer Of Its Duties, Insured Argues

Mealey's (April 7, 2020, 8:29 AM EDT) -- ST. PAUL, Minn. — An insured recently asked the Eighth Circuit U.S. Court of Appeals to reverse a lower federal court’s ruling that an excess directors and officers liability insurance policy’s prior acts exclusion bars coverage for the underlying settlement of securities and derivative lawsuits, alleging that the insured failed to disclose material, related-party relationships, arguing that the lower court made a “significant” error (Tile Shop Holdings, Inc. v. Allied World National Assurance Company, No. 19-2404, 8th Cir.)....