Axis Insurance Off The Hook In FINRA Discrimination Row

Law360, Chicago (June 12, 2013, 7:01 PM EDT) -- A Maryland federal judge sided with Axis Insurance Co. on Wednesday in the Financial Industry Regulatory Authority's suit accusing Axis of wrongly refusing to cover the regulator's defense in an ex-director's employment discrimination suit, finding FINRA waited too long to notify Axis of the claim.

U.S. District Judge Paul W. Grimm granted Axis's motion for summary judgment and rejected FINRA's cross-motion, concluding that an email FINRA received from its former employee's attorney qualified as a claim under the earlier of two policies it held from Axis...
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