Lloyd's Fights Coverage In Insurance Scam Suit

Law360, New York (October 27, 2010, 3:22 PM EDT) -- Lloyd's of London claims in a new suit that it does not have to pay legal defense costs under professional liability coverage for Steven M. Brasner, an insurance agent facing civil suits and criminal charges over an alleged scam that secured life insurance policies worth millions of dollars in order to flip them onto the secondary market.

Underwriters at the U.K.-based insurance market filed the suit Tuesday in the U.S. District Court for the Southern District of Florida, saying they didn't owe coverage because Brasner falls...
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