Delaware District Court Holds D&O Policy Does Not Cover Acts Prior to Insured’s Formation, and Rejects Attempt To Obtain Coverage for Post-Policy Claim by Linking It to a Non-Covered Claim

Delaware District Court Holds D&O Policy Does Not Cover Acts Prior to Insured’s Formation, and Rejects Attempt To Obtain Coverage for Post-Policy Claim by Linking It to a Non-Covered Claim

By: Celestine Montague and Frank J. Perch, III In a decision addressing several coverage issues under a directors and officers liability policy, a Delaware federal court held that coverage did not extend to claims based on acts alleged to have taken place before the insured entity’s formation, and that coverage for a claim first made…