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FRANKLIN HOLDING CORPORATION (DELAWARE) v. NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA.

261 A.D.2d 146 (1999)

689 N.Y.S.2d 492

FRANKLIN HOLDING CORPORATION (DELAWARE), Appellant, v. NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA., Respondent.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided May 6, 1999.

The exclusionary language on which defendant relies defines the term "Insured(s)" to include "any past * * * Directors or Officers of the Company", and provides "The Insurer shall not be liable to make any payment for Loss in connection with any claim or claims made against the Directors or Officers * * * (i) which are brought by any Insured or the Company; or which are brought by any security holder of the Company, whether directly or derivatively, unless such claim(s) is...

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