A long-term care insurance provider accused of hiking premiums without notifying customers may recover $45 million in coverage plus millions in pre- and post-judgment interest from its professional liability insurance carriers, the Delaware Supreme Court affirmed.
In a brief order Thursday, a three-justice panel backed the Delaware Superior Court’s September 2023 and February 2025 decisions finding that three exclusions did not bar coverage for defense and settlement costs incurred by Genworth Financial Inc. and two of its subsidiaries.
The lower court’s initial decision held that three underlying class actions challenging Genworth’s premium hikes, and its subsequent settlements of each, did not fall under an underwriting exclusion or a claims reserves exclusion in its primary and excess tower of insurance.
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