A Big Year For Coverage Rights
Coverage for Disgorgement of Profits Received by Third Parties
In J.P. Morgan Securities Inc. v. Vigilant Insurance Co., 21 N.Y.3d 324, 992 N.E.2d 1076 N.Y., 2013 (N.Y. June 11, 2013), the court rejected the insurers’ efforts to avoid coverage for disgorgement of profits paid not to the policyholder but to third parties. There, the U.S. Securities...
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