Unencumbered Assets, Trust v. Great American Insurance

OPINION AND ORDER

JAMES L. GRAHAM, District Judge.

This action stems from an insurance dispute over the proceeds of an excess directors and officers (“D & 0”) policy purchased by National Century Financial Enterprises, Inc. from Great American Insurance Company. The policy provided coverage of National Century’s directors and officers for claims made against them based on “wrongful acts.” The policy also covered National Century itself for claims based on wrongful acts (“entity coverage”).

On one side of the dispute is Great American, which believes no one is eligible for coverage under the D &…