(July 24, 2017, 1:13 PM EDT) -- CHICAGO — A banking institution and an insurer that sold it a bankers professional liability (BPL) policy recently submitted their arguments before the Seventh Circuit U.S. Court of Appeals over whether defense costs and a settlement reached in an underlying lawsuit were excluded under the policy (BancorpSouth Inc. v. Federal Insurance Co., No. 17-1425, 7th Cir.)....