American Casualty Company v. United Southern Bank, United Southern Corporation, and Omnibank of Mantee

CLARK, Chief Judge:

I

American Casualty Company (American Casualty) appeals the district court’s grant of summary judgment in favor of United Southern Bank, United Southern Corporation, and Omnibank of Mantee. We vacate and remand.

II

American Casualty issued a directors and officers liability insurance policy to United Southern Corporation (USB). The policy insured the USB directors and officers against loss that they became legally obligated to pay for claims made against them, individually or collectively, for wrongful acts in the discharge of their duties as directors or officers. The policy…