Predating insurance nonsedating anxiolytic

Developer and bank’s fraud and conspiracy allegations thus were based on the lawyers’ alleged post-retro date cover up of their pre-retro date mistakes. 2000) (applying plain meaning of the term “related” to a dispute over insurance coverage).” But with the way the prior acts exclusion was worded it’s hard to understand why that would make a difference.

The defendant title insurer meanwhile cross-claimed against the lawyers to indemnify it for any judgment for developer and bank involving the January 2006 loan and for negligence in failing to identity title exceptions. The act and omission and “Related Act or Omission” addressed by the prior acts exclusion were all described as before the retro-date. So an insurer with a prior acts exclusion like this would be well-advised to revise it.

An Occurrence type policy provides coverage for only injuries or losses that occur during the policy period, regardless of when an actual lawsuit was filed against you.

For example, a claim filed after the expiration of an Occurrence type policy would be covered only if the alleged injuries or losses occurred during the time the policy was in force.

But the Appeals Court didn’t address that issue and it made no difference in the result at least because the evidence was that the Claims, even those involving post-retro date wrongful acts, otherwise were based on an act or omission that occurred or was alleged to have occurred before the May 1, 2006 retro-date.

According to the Appeals Court: “Though [lawyers] contend Count Two alleging fraud in the underlying lawsuit relates only to the April 23, 2007, Development Loan closing and thus is covered under the policy, the acts and omissions giving rise to the malpractice claim from the January 26, 2006, Acquisition Loan closing also undergird the fraud claim regarding the Development Loan.” “The alleged negligence involved in the Acquisition Loan closing is the necessary predicate to the fraudulent scheme to extinguish the 2006 lender’s title insurance policy and fraudulent insertion of additional exceptions to the 2007 title insurance policy.

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They did so to avoid liability to developer and so title insurer wouldn’t have to cover the title exceptions.

The lawyers also were title insurer’s agents and faced liability to title insurer for any mistakes.

But when are pre- and post-retro date wrongful acts related? That January date was the May 1, 2006 retroactive date in the lawyers’ professional liability policy.

Insurers address the issue through varying policy wording. But developer and bank in a second count in the same suit alleged lawyers and title company committed fraud and conspiracy in an April 23, 2007 closing for a loan for developing the vacant land into a subdivision.

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