Professional Liability Insurance: Criminal Plea Precludes Insurer's Duty to Defend

An insured's guilty plea to criminal charges relieved his professional liability insurer of its duty under the policy to defend him against related civil claims, according to a June 18, 2013 Order by Southern District of Florida Judge Daniel Hurley. Judge Hurley's decision is interesting ...

Bankers' Professional Liability Insurance Does Not Cover Overdraft Fee Class Action Settlement

Bankers' Professional Liability Insurance Does Not Cover Overdraft Fee Class Action Settlement A recurring question under the management liability insurance protection that banks typically acquire is the extent of the protection afforded under their policies’ professional liability provisions...

Despite Policyholder’s Delayed Notice, Insurer Must Cover Subsequent Claims Related to Earlier Timely Claim

On July 16, 2014, the Eighth Circuit, applying New York law, concluded that because a financial services firm’s professional liability insurance policy was ambiguous on the question whether the policy’s timely notice requirements apply to later claims related to a timely original claim, the...

Professional Liability Insurance: Two Policies But No Coverage Due to Untimely Notice

In a January 9, 2015 opinion ( here ), the Eighth Circuit, applying Missouri law, held that there was no coverage under either of two successive professional liability insurance policies issued by the same insurer for a claim against its insured, LSi-Lowry Systems, because the claim was first made before...