Dist. Ct. erred in failing to grant defendant-insurance company’s motion for summary judgment in plaintiff-insured’s action alleging that defendant breached insurance contract by failing to provide coverage in directors-and-officer’s liability policy. Terms of policy covered claims that occurred between October of 2011 to October of 2012, and excluded “all notices of claims of circumstances ‘as reported’” under policy issued to plaintiff by different insurance company (Chubb). Record showed that in 2012 plaintiff sent notice of underlying lawsuit to Chubb and sought coverage for lawsuit under defendant’s policy. Ct. of Appeals found that “as reported” language in defendant’s policy precluded coverage in underlying lawsuit because exclusion covered all notices of claims reported to Chubb at any time.
Federal 7th Circuit Court
Civil Court
Insurance