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THE INSURANCE CONTRACT - Interpretation - Coverage provisions and exclusion clauses

Thursday, January 25, 2018 @ 8:34 AM  

Appeal by the defendant insurers from partial summary judgment granted in favour of the plaintiff, TB Bank, N.A. (Bank). The Bank sued for a declaration that it was entitled to indemnity under the professional liability section of an insurance policy for loss relating to a Ponzi scheme and damages for breach of contract. The Bank was a named insured under a Bankers’ Comprehensive Crime, Professional Indemnity and Directors’ and Officers’ Liability Programme (insurance policy) issued by the appellants, a syndicate of insurers. A Florida lawyer and...