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Navigators Insurance Company v. Under Armour, Incorporated

  1. January 29, 2026

    Under Armour 4th Circ. Loss Raises Related Claims Doubts

    A Fourth Circuit panel effectively halved the amount of available coverage for Under Armour's claims related to public financial forecasts and its accounting practices by deeming them "interrelated claims," highlighting the inherent uncertainty that practitioners face with the policy language.

  2. January 20, 2026

    4th Circ. Caps Under Armour's Insurance Coverage At $100M

    Under Armour's public financial forecasts and its accounting practices are a single claim under its insurers' excess policy language because they are "logically or causally related," the Fourth Circuit found Tuesday, overturning a trial court's ruling and capping the sportswear company's coverage at $100 million.

  3. October 22, 2025

    4th Circ. Seems Wary Of Under Armour's $100M Coverage Win

    The Fourth Circuit didn't seem convinced Wednesday that it should affirm a lower court's finding that government investigations into Under Armour are unrelated to a securities class action against the sportswear company and thus trigger an additional $100 million in directors and officers coverage from Under Armour's excess insurers.

  4. October 20, 2025

    4th Circ. Preview: Insurance, Trans Policy, Legal Aid Access

    The Fourth Circuit's second session of the year will have judges weigh in on multimillion-dollar insurance fights, including whether claims related to Under Armour's yearslong securities fraud scheme are "connected," and parsing whether a subcontractor's insurance policy stretches to a primary contractor.