SEATTLE - Guarantees for a $945,000 loan were purely individual and not actions by insureds in their director capacities, the Ninth Circuit U.S. Court of Appeals held March 13, affirming a lower federal court's ruling that a directors and officers insurer has no duty to defend or indemnify a bank's underlying claims arising from a defaulted loan (Edwin C. Mcrory, et al. v. Catlin Specialty Insurance Co., No. 11-36084, 9th Cir.; 2013 U.S. App. LEXIS 5005)....(read more)![]()
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