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Legal malpractice insurers have plenty of legitimate reasons for denying coverage, but a case heading to a New Jersey appeals court warns that a denial won't stick if they take too long to make the decision. At issue is whether an insurer's reservation-of-rights letter was sufficient to alert a firm that the carrier might exercise the opt-out clause at any time. The lower court decision suggests that when it comes to insurance, lawyers can't be held to a higher standard of knowledge than the general public.
June 06, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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