Mist filed the claim on December 8, 2015. Berkeley reserved its rights from day one. In a coverage letter dated March 9, 2016, it agreed to pay 10% of legal fees, but provided full details of the capacity exclusion. This section prohibits coverage for any loss associated with a claim: “On the basis of, directly or indirectly, or as a result of, any wrongful act of the insured serving in his capacity as a director, officer, trustee, employee, member or governor of an entity other than the insured entity or an outside entity, or being in any way involved in, or by reason of his position as a director, officer, trustee, employee, member or governor of such other entity.”
NJ Supreme Court gives clear victory to Berkeley in D&O coverage fight & more related News Here
