Coverage for Suit Arising from Settlement of Previous Litigation Not Barred by Prior and Pending Proceeding Exclusion | Wiley Rein LLP
To embed, copy and paste the code into your website or blog: Applying California law, the United States Court of Appeals for the Ninth Circuit has held that a fiduciary liability policy’s Prior and Pending Proceeding Exclusion did not bar coverage for litigation concerning implementation of a settlement agreement resolving a prior lawsuit because the two actions did not “arise out of the same facts or circumstances.” In 1998, employee benefit plan members brought suit against the insured plan asserting that the California Supreme Court’s holding in Ventura County Deputy Sheriffs’ ...
Source: jdsupra.com