Capacity Exclusion Bars D&O Coverage For Pharmaceutical Company, Majority Affirms

( May 12, 2026, 2:25 PM EDT) -- TRENTON, N.J. — A majority of the New Jersey Supreme Court on May 11 held that a directors and officers liability insurance policy’s capacity exclusion bars coverage for an underlying lawsuit brought against a pharmaceutical company insured and that the insurer had the right to refuse to contribute to the settlement of the underlying case....