Windermere Oaks Water Supply Corp. v. Allied World Specialty Insurance Co.
The Fifth Circuit Court of Appeals affirmed summary judgment granted by the district court holding that an exclusion for contractual liability in Public Officials and Management Liability policy did not preclude duty to defend insured water supply corporation from claims by members and partial owners of the corporation for breach of fiduciary duties and related claims which could stand alone even if no contract existed, and further holding the insurer was liable under the Texas Prompt Payment of Claims Act.
Public Officials and Management Liability policy, breach of contract, contractual liability exclusion, duty to defend, breach of fiduciary duty, ultra vires, Tex. Ins. Code. Sec. 542.060, Tex. Bus. Org. Code Sec 20.002(c)
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