Judge: Professional Services Exclusion Does Not Bar Suit Alleging Kickback Scheme
Mealey's (March 25, 2016, 2:34 PM EDT) -- GAINESVILLE, Ga. — A Georgia federal judge on March 22 rejected a directors and officers liability insurer’s argument that a professional services policy exclusion bars coverage for the more than $4 million in defense costs that the insured incurred in defending an underlying lawsuit (Philadelphia Indemnity Insurance Co. v. First Multiple Listing Services Inc., et al., No. 14-154, N.D. Ga.; 2016 U.S. Dist. LEXIS 36647).
(Order available. Document #13-160407-017R.)
First Multiple Listing Service (FMLS) provides real estate listing services for licensed real estate professionals.