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FDIC v. AMERICAN CAS. CO. OF READING

No. 93-1317.

528 N.W.2d 605 (1995)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, v. AMERICAN CASUALTY COMPANY OF READING, PENNSYLVANIA, Defendant-Movant.

Supreme Court of Iowa.

March 29, 1995.

Attorney(s) appearing for the Case

Mark McCormick, Roger T. Stetson and Margaret C. Callahan of Belin Harris Lamson McCormick A Professional Corporation, Des Moines, and Raymond J. Jast of Peterson & Ross, Chicago, IL, for defendant-movant.

G. Mark Rice and Chip Lowe of Adams & Howe, P.C., Des Moines, and Ann S. DuRoss, Colleen B. Bombardier and Maria Beatrice Valdez, Washington, DC, for plaintiff.

Considered by McGIVERIN, C.J., and HARRIS, LAVORATO, ANDREASEN, and TERNUS, JJ.

HARRIS, Justice.

The certified question is whether, under a liability insurance policy, coverage exists for claims made after expiration of the coverage period when notice of the occurrence or potential claim was given only during the discovery period. Our answer is that no such coverage is provided.

November 1, 1983, defendant American Casualty Co. of Reading, Pennsylvania, assumed an officers' liability policy in force as to Mineola State Bank in Mills County...

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