Insurer Must Show Why Former Bank Execs Shouldn't Be Dismissed From Suit

Insurer Must Show Why Former Bank Execs Shouldn't Be Dismissed From Suit

PHOENIX - In a show-cause order, a federal judge in Arizona on Sept. 13 gave Progressive Casualty Insurance Co. two weeks to show why former Community Bank of Arizona (CBA) directors and officers should not be dismissed from the insurer's declaratory suit contesting the insurer's coverage of a suit related to the bank's losses (Progressive Casualty Insurance Co. v. Federal Deposit Insurance Corp., et al., No.13-0232, D. Ariz.).

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