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Misappropriation Exclusion Bars Coverage for Claim Involving Improper Transfer of Escrow Funds, but Insurer Must Defend Against...

The United States District Court for the Southern District of Florida, applying Florida law, has held that a professional liability insurer did not have a duty to defend or indemnify its insured in a lawsuit involving the...more

Accounting Services Do Not Implicate Professional Liability Policy When Not Performed “for Financial Institutions”

Applying New Jersey law, the United States District Court for the Southern District of Florida has held that an insurer had no duty to defend or indemnify an insured’s subsidiary because the auditing services at issue did not...more

E&O Policy’s Securities Exclusion Bars Coverage For Amended Complaint Alleging Only Federal Securities Fraud

Applying Michigan law, the U.S. District Court for the Eastern District of Michigan has held that an E&O policy’s securities exclusion applied and the insurer’s duty to defend ceased as of the filing of an amended complaint...more

D&O Insurer Has Duty to Defend Where Counterclaim Allegations Against Directors Arguably Involve Insured Capacity

Applying New York law, the United States District Court for the Southern District of New York has held that a D&O insurer had a duty to defend a counterclaim that at least arguably made allegations of wrongful conduct against...more

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