Executive Summary Blog

Executive Summary Blog

Legal developments affecting professional liability insurers

Tag Archives: Puerto Rico

First Circuit Holds UBS Puerto Rico Bond Claims Barred by Specific Litigation Exclusion

Posted in Related Claims and associated exclusions
Ruling in favor of Wiley Rein’s client—a primary D&O insurer—and two excess insurers, the U.S. Court of Appeals for the First Circuit today held that a broadly worded specific litigation exclusion bars coverage for a series of lawsuits, regulatory investigations, and arbitrations filed against the insured, a Puerto Rico subsidiary of UBS, because the matters… Continue Reading

Specific Litigation Exclusion Bars Coverage for Puerto Rico Mutual Fund Suits and Arbitrations

Posted in Related Claims and associated exclusions
In a win for Wiley Rein’s client, a Puerto Rico federal district court has held that a policy’s broadly worded specific litigation exclusion bars coverage for a series of lawsuits, regulatory investigations, and arbitrations filed against the insured because the matters all involve facts, situations, or circumstances alleged in the claims listed in the exclusion. … Continue Reading