Okada v. MGIC Indemnity Corp.

FERGUSON, Circuit Judge:

Defendant MGIC Indemnity Corporation (“MGIC”) appeals the district court’s grant of summary judgment in favor of plaintiffs Glenn K. Okada, William E. Takabayashi, and Richard A. Cooke, Jr. (“insureds”), who were insured under a Directors and Officers Errors and Omissions policy issued by MGIC. The district court ruled that MGIC had a duty to defend the insureds in lawsuits alleging losses caused by the insureds as directors of a savings and loan association (“the underlying lawsuits”); that more than one potentially covered “loss” was involved; and that MGIC acted in…