Mealey's Insurance - Securities Holders' Claims Barred By 2 Policy Provisions, Federal Judge Rules

Mealey's Insurance - Securities Holders' Claims Barred By 2 Policy Provisions, Federal Judge Rules

PHOENIX - Security holders' claims against an insured are excluded from directors, officers and corporate liability insurance coverage because they were brought with the assistance of, active participation of and intervention of an insured under the policy, an Arizona federal judge ruled May 20, granting the insurer's motion to dismiss a breach of contract and bad faith lawsuit (AMERCO v. National Union Fire Insurance Company of Pittsburgh PA, No. 13-2588-PHX-PGR, D. Ariz.; 2014 U.S. Dist. LEXIS 69066).

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