Insured Appeals Court’s Ruling That Bump-Up Exclusion Bars D&O Coverage

Mealey's ( April 4, 2024, 1:20 PM EDT) -- ALEXANDRIA, Va. — An insured on April 3 filed a notice of appeal in a Virginia federal court asking the Fourth Circuit U.S. Court of Appeals to review the lower court’s holding that a “bump-up” exclusion unambiguously precludes directors and officers liability insurance coverage for the $90 million settlement of two underlying lawsuits arising from a 2015 merger....