Professional Services Exclusion Does Not Bar Coverage, Panel Rules In Reversal
(February 12, 2016, 12:40 PM EST) -- WASHINGTON, D.C. — The District of Columbia Court of Appeals on Feb. 11 held that a lower court erred in finding that an insurance policy’s professional services exclusion bars coverage for underlying claims against insureds stemming from mortgage-backed securities investments, reversing and remanding the lower court’s ruling in favor of the insurer (Carlyle Investment Management L.L.C., et al. v. ACE American Insurance Co., et al., No. 14-CV-659, D.C. App.; 2016 D.C. App. LEXIS 35).
(Opinion and judgment available. Document #13-160218-014Z.)