Hangley Aronchick has prevailed on behalf of client Arch Insurance Co. in a dispute over excess insurers’ coverage of a $106 million judgment PNC Bank incurred in an underlying lawsuit involving the bank’s predecessor.
U.S. District Judge Mark R. Hornak of the Western District of Pennsylvania ruled that the conduct at issue fell under two policy exclusions that barred coverage for damages connected to pre-PNC acquisitions or that related back. Judge Hornak sided with the insurers’ motion in a 24-page opinion, writing that the policy language “clearly and unambiguously” precluded coverage in the case. As a result, Arch and the other excess insurers won summary judgment, resulting in dismissal of the case filed by PNC in the Pittsburgh federal court.
Hangley Aronchick’s Insurance Coverage practice chair Ronald Schiller, shareholder Daniel Layden and of counsel Kyle Heisner, represented Arch.
Read the March 13 opinion here.
Read the article on Law360.com.
