Judge: Insurer Has No Duty To Satisfy Judgment Against Broker/Dealer Insured

Judge: Insurer Has No Duty To Satisfy Judgment Against Broker/Dealer Insured

ST. PAUL, Minn. - An underlying $617,786.47 judgment against a broker/dealer insured did not arise out of "the rendering or failing to render professional services" and, therefore, is not covered under an insurance policy, a Minnesota senior federal judge ruled Aug. 26 (Jackson National Life Insurance Co. v. Catlin Specialty Insurance Co., No. 12-1406, D. Minn.; 2013 U.S. Dist. LEXIS 120858).

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