Exclusion Bars Coverage Of Suit Against Bank Executives, Federal Judge Says

Exclusion Bars Coverage Of Suit Against Bank Executives, Federal Judge Says

GAINESVILLE, Ga. - The St. Paul Mercury Insurance Co. is under no duty to cover a suit the Federal Deposit Insurance Corp. brought against former executives of the failed Community Bank & Trust (CB&T) due to the bank's directors and officers policy's insured vs. insured exclusion, a federal judge in Georgia found Aug. 19 (St. Paul Mercury Insurance Co. v. Charles M. Miller, et al., No. 12-0225, N.D. Ga.; 2013 U.S. Dist. LEXIS 116877).

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