Judge: No Bankers’ Professional Liability Coverage Owed For False Claims Settlement

Mealey's (February 19, 2019, 1:56 PM EST) -- NEW ORLEANS — A Louisiana federal judge on Feb. 13 granted professional liability insurers’ motion to dismiss their banker insured’s breach of contract lawsuit, finding that there is no coverage owed for the insured’s $11,692,149 settlement with the government for an underlying qui tam action brought under the False Claims Act (Iberiabank Corporation v. Illinois Union Insurance Company, et al., No. 18-1090, E.D. La., 2019 U.S. Dist. LEXIS 23060)....

Attached Documents

Related Sections