In Meeker Sharkey Associates, Inc. v. National Union Fire Ins. Co., 208 N.J.Super. 354, 506 A.2d 19 (App.Div.1986), a subrogation case, only one insurance company was involved. An employee of the East Orange Board of Education was indicted for ten counts of misconduct in office and for unlawfully obtaining school district funds. He was acquitted of four counts at one trial and then found not guilty of the other six counts at another trial. Approximately $ 28,000 was paid on behalf of that board toward the employee's attorney's fees. An endorsement to its insurance policy stated: In consideration of the premium charged, it is agreed that such coverage as is provided by this policy shall be extended to include the liability imposed upon the named insured by sections 18A:16-6 and 18A:16-6.1 of the revised statutes of New Jersey. The indictment against the employee occurred during the coverage period, but almost fourteen months before the effective date of the policy endorsement. However, the acquittals were within the period the endorsement was in effect. Based on the principle that the wrongful act covered under this policy was when the complaining party was actually damaged, we held that the damage to the East Orange Board did not occur until the time of the acquittals because that was when it incurred the obligation. Under the circumstances presented, we there said that the "final disposition" language of N.J.S.A. 18A:16-6.1, i.e., the date of dismissal or final disposition in favor of the employee, including all appeals, "provides the most workable and readily ascertainable date to fix liability and coverage." Id. at 359, 506 A.2d 19.