Hollis Park Manor Nursing Home v. Landmark American Insurance

MEMORANDUM AND ORDER

BLOCK, Senior District Judge.

These cross-motions for summary judgment concern how to interpret the word “derivative” in the directors’ and officers’ liability policy (the “Policy”) Hollis Park Manor Nursing Home (“Hollis Park”) purchased from Landmark American Insurance Company (“Landmark”). The Policy contained two exclusions from coverage, one for “malpractice” and another for “professional errors and omissions.” Both exclusions included identical “management carve backs,” stating that the exclusions would not apply “to any derivative or shareholder class action claims…