In a win for Wiley’s client, a New Jersey appellate court, applying New Jersey law, affirmed a trial court’s decision rescinding four lawyer’s professional liability policies because of material misrepresentations made in the...more
1/24/2025
/ Appellate Courts ,
Denial of Insurance Coverage ,
Fraud ,
Insurance Claims ,
Insurance Industry ,
Insurance Litigation ,
Legal Ethics ,
Liability ,
Material Misrepresentation ,
Misleading Statements ,
Policy Terms ,
Professional Liability ,
Professional Misconduct
The New York Court of Appeals has held that a $140 million disgorgement payment in an SEC settlement is not a non-covered “penalty” under a professional liability policy. According to the court, the payment had compensatory...more