Liberty Claims Law Firm At Liability Coverage Limit

Law360, New York (October 23, 2012, 4:27 PM EDT) -- Liberty Surplus Insurance Corp. Inc. sued Weinberg & Richmond LLP in Illinois federal court Monday, saying the defunct law firm has exhausted its $5 million in professional liability coverage because separate lawsuits brought by a bankrupt restaurateur and its owners count as one claim.

Boston-based Liberty Surplus said the policy it issued to Weinberg & Richmond, which has a $5 million limit per claim and a total cap of $10 million, has already been exhausted through settlements of litigation brought by Restaurant Development Group Inc.'s Chapter...
To view the full article, register now.