Sphinx International, Inc. v. National Union Fire Insurance

TJOFLAT, Circuit Judge:

This case is about a directors’ and officers’ liability policy (D&O policy). More specifically, it’s about that D&O policy’s “insured vs. insured” exclusion, which acts to bar coverage for claims brought by directors and officers. The district court held on summary judgment that this exclusion bars coverage for claims brought by a former director and officer. We agree and thus affirm.

We divide our opinion in three parts. In Part I, we explain the case’s factual and procedural history. In Part II, we apply the law to this history. In Part III, we briefly conclude.

I

Sphinx…