A Delaware trial court has affirmed its ruling that an Insured v. Insured exclusion does not apply to a shareholder derivative demand brought by a director of the company because the demand constitutes a single Claim with an earlier demand made by the same individual before he became a director. Ameritrans Capital Corp. v. XL Specialty Ins. Co., 2016 WL 3475108 (Del. Super. Ct. Jun 15, 2016).  The court also held that the insurer was not entitled to an allocation because the Insured v. Insured exclusion did not apply.
Continue Reading Insured v. Insured Exclusion, Allocation Do Not Apply to Related Claims