Bank of Rhode Island v. Progressive Casualty Insurance

MEMORANDUM AND ORDER

JOHN J. McCONNELL, JR., District Judge.

Bank Rhode Island (“BankRI”) lost a civil trial in Rhode Island Superior Court and the jury rendered a multimillion-dollar damages award against it. BankRI is now before the Court seeking its defense costs and indemnification from its insurer. The question presented in this case is whether BankRI’s Directors and Officers (“D & 0”) insurance policy (“Policy”) with Progressive Casualty Insurance Company (“Progressive”) covers defense costs and/or indemnifies the settlement. More specifically, this Court must decide whether the Policy…