Section 9.16 Insuring Clause

• Library: Insurance Practice 2015

The insuring clause provides the framework for determining the scope of coverage under the director and officer liability policy by establishing the relationship between “claims,” “losses,” and “wrongful acts.” An example of a current insuring clause can be found in FDIC v. Mijalis, 15 F.3d 1314, 1328 (5^th Cir. 1994). The insuring clause discussed in that case read as follows:

If during the policy period any claim or claims are made against the Insureds (as hereinafter defined) or any of them for a...