(March 22, 2016, 2:42 PM EDT) -- CHICAGO — The Seventh Circuit U.S. Court of Appeals on March 21 found that a professional liability insurance policy’s “legal fees” exclusion precludes coverage for an underlying $628,527.47 arbitration award entered against a law firm insured (Edward T. Joyce & Associates P.C. v. Professionals Direct Insurance Co., No. 14-3341, 7th Cir.; 2016 U.S. App. LEXIS 5063).
(Opinion available. Document #13-160407-011Z.)
On March 5, 2013, Edward T. Joyce & Associates P.C., n/k/a Acme Liquidation Specialists Ltd., sued lawyers professional liability insurer Professionals Direct Insurance Co....