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Mark D. Harris and Margaret A. Dale Mark D. Harris and Margaret A. Dale

On Oct. 31, 2019, the Delaware Supreme Court decided an insurance-coverage dispute arising out of a lawsuit by a bankruptcy trustee against Verizon in connection with Verizon’s divestiture of its “yellow pages” business. In re Verizon Ins. Coverage Appeals, No. 558, 2018, 2019 WL 5616263 (Del. Oct. 31, 2019). The central issue before the court was how to interpret and apply the term “securities claim” in a corporate insurance policy. The ruling serves as a reminder of the importance of carefully reviewing and negotiating the definitions and provisions of policies before they become the subject of litigation.

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