Genesis Insurance Company v. National Union Fire Insurance
Opinion
Opinion
MEMORANDUM
The district court held that Genesis Insurance Company (“Genesis”) was entitled to coverage under a policy issued by National Union Fire Insurance Company (“National Union”) as the equitable subro-gee of Magma Design Automation, Inc. (“Magma”). National Union timely appealed the resulting partial judgment in favor of Genesis. Because the district court certified its judgment under Federal Rule of Civil Procedure 54(b), we have jurisdiction. We hold as follows:
1.National Union’s policy excluded coverage for any claim “based upon, arising from, or in consequence of any fact, circumstance, situation, transaction, event or Wrongful Act” that had been “the subject of any notice given under any policy” for which National Union’s policy was “a direct or indirect renewal or replacement.” In context, it is reasonable to interpret “under” to mean “according to.” See Black’s Law Dictionary 1525 (6th ed.1990); see also ACS Sys., Inc. v. St. Paul Fire and Marine Ins. Co., 147 Cal.App.4th 137, 146 , 53 Cal.Rptr.3d 786 (2007) (explaining that policy terms are generally to be interpreted in “their ordinary and popular sense”) (internal quotation marks omitted).