Lloyd's Escapes Defense Duty In Insurance Scam Suits

Law360, New York (June 19, 2013, 2:39 PM EDT) -- A Florida judge ruled on Tuesday that Lloyd’s of London is off the hook for an alleged insurance scammer’s defense costs in a pair of civil suits, saying his conviction in a related criminal case triggered a fraud exclusion in an employment coverage policy.

U.S. District Court Judge Daniel T. K. Hurley said Lloyd’s need not cover Steven M. Brasner’s legal expenses in two consolidated actions brought against him in 2008 by AXA Equitable Life Insurance Co. and The GIII Accumulation Trust, citing a criminal conduct...
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