IN RE VERIZON INS. COVERAGE APPEALS

No. 558, 2018, No. 560, 2018, No. 561, 2018.

222 A.3d 566 (2019)

IN RE VERIZON INSURANCE COVERAGE APPEALS.

Supreme Court of Delaware.

Decided: October 31, 2019.

Rehearing Denied: November 18, 2019.


Attorney(s) appearing for the Case

Kurt M. Heyman, Esq. (argued), Aaron M. Nelson, Esq. , HEYMAN, ENERIO, GATTUSO & HIRZEL LLP, Wilmington, Delaware; Scott B. Schreiber, Esq. , James W. Thomas, Jr., Esq. , William C. Perdue, Esq. , ARNOLD & PORTER KAYE SCHOLER LLP, Washington, D.C.; Robert Reeves Anderson, Esq. , ARNOLD & PORTER KAYE SCHOLER LLP, Denver, Colorado; Attorneys for Defendants-Appellants Illinois National Insurance Co. and National Union Fire Insurance Co. of Pittsburgh, PA.

Bruce W. McCullough, Esq. , BODELL BOVÉ, LLC, Wilmington, Delaware; Ronald P. Schiller, Esq. (argued), Daniel J. Layden, Esq. , Jason A. Levine, Esq. , HANGLEY, ARONCHICK, SEGAL, PUDLIN & SCHILLER, Philadelphia, Pennsylvania; Attorneys for Defendant-Appellant/Cross-Appellee Zurich American Insurance Company.

John C. Phillips, Jr., Esq. , David A. Bilson, Esq. , PHILLIPS, GOLDMAN, McLAUGHLIN & HALL, P.A., Wilmington, Delaware; Joseph A. Bailey III, Esq. , CLYDE & CO US LLP, Washington, D.C.; Attorneys for Defendant-Appellant U.S. Specialty Insurance Company.

Jennifer C. Wasson, Esq. , Carla M. Jones, Esq. , POTTER ANDERSON & CORROON LLP, Wilmington, Delaware; Robin L. Cohen, Esq. (argued), Keith McKenna, Esq. , Michelle R. Migdon, Esq. , McKOOL SMITH P.C., New York, New York; Attorneys for Plaintiffs Below-Appellees/Cross-Appellants Verizon Communications Inc., Verizon Financial Services LLC, and GTE Corporation.

Before VALIHURA, VAUGHN, and SEITZ, Justices.


This appeal turns on the definition of a Securities Claim in an insurance policy. Under the policy, a Securities Claim is a claim against an insured that "alleg[es] a violation of any federal, state, local or foreign regulation, rule or statute regulating securities...." The Superior Court found the definition ambiguous. Using extrinsic...

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