WolfBlock Sues Insurer Over Ex-Partner's Severance Package

Law360, Philadelphia (October 24, 2013, 5:21 PM EDT) -- WolfBlock LLP launched a lawsuit in Pennsylvania state court on Tuesday, alleging that Federal Insurance Co. breached its contract by refusing to honor claims made to cover the annual payments on a former equity partner’s $400,000 severance package.

WolfBlock asked a judge in the Philadelphia County Court of Common Pleas for a declaration finding that its decision to cease making annual $26,646 payments, as part of a severance package it executed with ex-partner Michael Budin in 2003, triggered a fiduciary liability policy the firm had purchased...
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