Insurer Seeks To Dodge Levine Katz Malpractice Claims

Law360, New York (November 30, 2010, 3:02 PM EST) -- Philadelphia Indemnity Insurance Co. has launched a suit seeking a declaratory judgment that it does not owe accounting firm Levine Katz Nannis & Solomon PC coverage for the defense of another insurance agency's malpractice action.

The prior acts, knowledge of wrongful act and unlawful act exclusions of the disputed accountants professional liability insurance policy preclude coverage of the underlying action accusing the firm of malpractice in its creation and management of an employee stock option plan for Nathan Sallop Insurance Agency Inc., Philadelphia Indemnity claims in...
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