Featured Posts

Broker-Dealer Professional Liability Policy Not Implicated Where Registered Representative Was “Selling Away”
Broker-Dealer Professional Liability Policy Not Implicated Where Registered Representative Was “Selling Away”

The United States District Court for the Northern District of Illinois, applying Illinois law, has held that a registered representative was not performing Professional Services so as to implicate coverage under a securities broker-dealer professional liability policy where the representative advised clients to invest in what turned out to be a Ponzi scheme. Everest Nat’l Ins. Co. v. Komarek, 2023 WL 3074678 (N.D. Ill. Apr. 25, 2023). The investments were not approved by, or offered for sale through, the registered representative’s broker-dealer employer. A “selling away” exclusion also applied.

Subscribe to receive the latest updates from Wiley Executive Summary

Business Enterprise Exclusions Bars Outside Entity Conduct
Business Enterprise Exclusions Bars Outside Entity Conduct
Fact Issues Preclude Summary Judgment As To Whether Related Companies Constitute “Insureds” And Whether Claims Are Related
Fact Issues Preclude Summary Judgment As To Whether Related Companies Constitute “Insureds” And Whether Claims Are Related
Fifth Circuit Affirms that Business Interruption Coverage Requires Direct Physical Loss; COVID-Related Losses Do Not Qualify
Fifth Circuit Affirms that Business Interruption Coverage Requires Direct Physical Loss; COVID-Related Losses Do Not Qualify
Insurer Entitled to Rescission Based on Insured’s Failure to Disclose Known Lawsuits  
Insurer Entitled to Rescission Based on Insured’s Failure to Disclose Known Lawsuits  
Washington Appeals Court Upholds Reasonableness of Stipulated Judgment
Washington Appeals Court Upholds Reasonableness of Stipulated Judgment
No Coverage for “Related Claims” Derived From Single Transaction Where First Claim Was Not Timely Noticed to Insurer
No Coverage for “Related Claims” Derived From Single Transaction Where First Claim Was Not Timely Noticed to Insurer
Insurer Can Rely on Prior Insurance Applications in Support of Rescission Claim Based on Omission in Current Policy’s Application
Insurer Can Rely on Prior Insurance Applications in Support of Rescission Claim Based on Omission in Current Policy’s Application
No Coverage for Claims Made Outside of Claims-Made Policy Period
No Coverage for Claims Made Outside of Claims-Made Policy Period
Dishonesty Exclusion Bars Coverage For Claim Based On Actions Of Contractor Authorized To Conduct Operations On Behalf Of Insured
Dishonesty Exclusion Bars Coverage For Claim Based On Actions Of Contractor Authorized To Conduct Operations On Behalf Of Insured
Wiley Executive Summary

Sign up for updates

By using this site, you agree to our updated Privacy Policy, Terms & Conditions, and Cookies Policy.

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.