BRS Coverage Limited By Provision: NY Appeals Court

Law360, New York (June 28, 2011, 6:03 PM EDT) -- A New York appeals court ruled Tuesday that an anti-stacking provision limited insurance coverage for Bruckmann Rosser Sherrill & Co. LLC, which faced $40.4 million in losses in underlying litigation and is now suing its insurance broker Marsh USA Inc.

The private equity firm sued Marsh for breach of contract and negligence, arguing that the broker was supposed to secure $20 million in excess directors and officers insurance.

BRS thought it had such protection from American International Surplus Lines Insurance Co., a unit of American International...
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