National Bank v. St. Paul Fire & Marine Insurance

OPINION

RYAN, Judge

¶ 1 National Bank of Arizona (“NBA”) sought a declaratory judgment against St. Paul Fire and Marine Insurance Company (“StPaul”) regarding a Directors & Officers Liability Policy (“D & 0 Policy”) NBA purchased from St. Paul. NBA alleged that its D & 0 Policy provided coverage for all costs, charges, and expenses NBA incurred in defending two lawsuits against it. In both lawsuits NBA was named as a defendant, but none of NBA’s directors or officers were named as defendants. On cross-motions for summary judgment, the trial court ruled in favor of St. Paul. We affirm, holding…