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Bonds Denial of Insurance Coverage

Wiley Rein LLP

No Notice-Prejudice Exception Applies to Financial Institution Bonds under Oklahoma Law

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The United States District Court for the Northern District of Oklahoma has held, as a matter of first impression, that no notice-prejudice exception applies under Oklahoma law to a financial institution bond in the case of an...more

Wiley Rein LLP

Over $141 Million in Trading Losses for Illegal Trade Deemed “Direct Financial Loss” for “Malicious Act”

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A New York intermediate appellate court has held that an insured was entitled to coverage under its fidelity bond for over $141 million in losses it sustained after an independent broker used the insured’s electronic trading...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes "Common and Usual Meaning" Interpretation of Insurance Contracts

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which UBS Puerto Rico sought to overcome its insurance carriers' refusal to defend and provide coverage for two civil actions, settlements with the SEC and FINRA...more

Carlton Fields

Arise and Exclude: Artful Pleading Fails to Circumvent Contractual Liability Exclusion

Carlton Fields on

It’s not uncommon for plaintiffs to couch their pleadings in terms that attempt to avoid exclusions in defendants’ liability coverage. The plaintiffs in Bond Safeguard Ins. Co. v. National Union Fire Ins. Co. of Pittsburgh,...more

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