Other: “Legal Fees” Exclusion

The United States Court of Appeals for the Seventh Circuit, applying Illinois law, has held that an exclusion barring coverage for “claim[s] for legal fees, costs or disbursements paid or owed to you” applies to bar coverage for an arbitration award adjusting the amount of attorneys’ fees owed to an insured law firm. Edward T. Joyce & Assocs. P.C. v. Prof’ls Direct Ins. Co., 2016 WL 1085223 (7th Cir. Mar. 21, 2016).
Continue Reading Legal Fees Exclusion Bars Coverage for Arbitration Award that “In Substance” Reduced Fees Owed to Insured Law Firm