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LITTLE v. MGIC INDEM. CORP.

Civ. A. No. 86-275.

649 F.Supp. 1460 (1986)

James P. LITTLE, Plaintiff, v. MGIC INDEMNITY CORPORATION, and American Casualty Company, a/k/a American Casualty Company of Reading, a subsidiary of Continental Casualty Company and CNA Financial Corp., Defendants.

United States District Court, W.D. Pennsylvania.

December 23, 1986.

Attorney(s) appearing for the Case

Frederick W. Thieman, Pittsburgh, Pa., for plaintiff.

Michael P. Tone, Theodore A. Boundas, James A. Skarzynski, Sheldon G. Karasik, David B. Olaussen, Peterson, Ross Schloerb & Seidel, Chicago, Ill., Mark J. Gesk, Wayman, Irvin & McAuley, Pittsburgh, Pa., for defendants.

OPINION

COHILL, Chief Judge.

I. FACTS

This case revolves around a Directors and Officers insurance policy ("D & O policy") purchased by Union National Bank of Pittsburgh ("UNB") for the benefit of its directors and officers. The policy was issued by MGIC Indemnity Corp., and subsequently transferred to and assumed by the American Casualty Co. Plaintiff James P. Little was a vice-president of the commercial

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