An effort by insurers to disclaim more than $260 million in coverage stemming from settlements paid out in a 2006 securities fraud case by Bear Stearns was dealt a setback by the First Department Thursday. But the panel kept alive an effort by the insurers to disclaim the coverage on public policy grounds.
January 16, 2015 at 12:00 AM
1 minute read
An effort by insurers to disclaim more than $260 million in coverage stemming from settlements paid out in a 2006 securities fraud case by Bear Stearns was dealt a setback by the Appellate Division, First Department, Thursday.
But the unanimous panel kept alive an effort by the insurers to disclaim the coverage on public policy grounds.
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