9th Circuit: Professional Liability Policy Doesn’t Cover Court-Imposed Sanctions

Mealey's (March 22, 2016, 10:17 AM EDT) -- SAN FRANCISCO — The Ninth Circuit U.S. Court of Appeals on March 21 affirmed a lower federal court’s ruling that awarded two insolvent insurers reimbursement of the defense costs they incurred in defending insureds against an underlying motion for sanctions (James Luard Wallis, et al. v. Centennial Insurance Company Inc., et al., No. 14-15555, 9th Cir.; 2016 U.S. App. LEXIS 5139)....