Insurers Can't Heap Madoff Victims' Claims, Judge Says

Law360, New York (March 2, 2012, 9:23 PM EST) -- A New York state judge on Wednesday again rejected insurers' bid to curb recovery for affiliates of a family investment office in a $107.6 million fight over losses rooted in Bernard Madoff's Ponzi scheme, saying policy documents prevented the affiliates' claims from being aggregated.

New York Supreme Court Judge Richard B. Lowe said that National Union Fire Insurance Co. of Pittsburgh, Pa., Continental Casualty Co., Fidelity & Deposit Co. of Maryland and Great American Insurance Co. can't lump all the plaintiffs' losses together to show that,...
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