United States First Circuit

District court's entry of summary judgment in favor of insurer is affirmed as director and officer (D&O) policies exist to fund indemnification covenants that protect corporate directors and officers from personal liability, not to protect the corporation, and to extend coverage to situations in which the directors and officers are not themselves the actual targets of the claims made would transmogrify D&O policies into comprehensive corporate liability policies which is contrary to both the letter and the spirit of the D&O policy at issue.

Appellate Information

• Decided 10/08/2009
• Published 10/08/2009

Judges

• SELYA, Circuit Judge., Before HOWARD, RIPPLE, and SELYA, Circuit Judges.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Jeffrey T. Edwards, with whom Preti, Flaherty, Beliveau & Pachios, LLP was on brief, for appellant.


• For Appellees:
  
• Leslie S. Ahari, with whom Troutman Sanders LLP, Louis K. Thomas, and Pierce Atwood LLP were on brief, for appellee.