Texas Panel Reverses Ruling In Favor Of Directors, Officers Liability Insurers

Texas Panel Reverses Ruling In Favor Of Directors, Officers Liability Insurers

HOUSTON - A Texas appeals panel on July 16 found that an endorsement in primary and excess directors and officers liability insurance policies precludes insurers from denying coverage for underlying lawsuits arising from a fraudulent investment scheme involving thoroughbred breeding mare leases, reversing and remanding a lower court (Gastar Exploration Ltd v. U.S. Specialty Insurance Co., et al., No. 14-12-00118-CV, Texas App., 14th Dist.; 2013 Tex. App. LEXIS 8738).

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