Axis Insurance Must Deal With Executives’ Fraud Dispute in Trial

An AXIS Capital Holdings Ltd. insurance unit failed to convince a federal court to reconsider its decision ordering a jury to weigh a suit from payment technology company Cantaloupe Inc. seeking directors and officers insurance for federal securities probes and private lawsuits.

There is a factual dispute over what Cantaloupe executives knew about potential insurance claims arising from the alleged fraud before buying the policy, Judge Gene E.K. Pratter of the US District Court for the Eastern District of Pennsylvania said Thursday. The court kept in place a November decision calling for a jury to weigh the executives’ “subjective knowledge” ...