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Executive Summary Blog

Legal developments affecting professional liability insurers

Category Archives: Securities Litigation

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Maine District Court Holds Insurer Has No Duty to Defend SEC Enforcement Action Because Disgorgement Constitutes a Penalty

Posted in Related Claims and associated exclusions, Securities Litigation
In a case in which Wiley Rein represented the insurer, a federal district court in Maine has held that an insurer had no duty to defend an enforcement action brought by the Securities and Exchange Commission (SEC) under a lawyers’ professional liability policy because none of the relief sought constituted “damages” as defined in the… Continue Reading