Specific Litigation Exclusion Bars Coverage For Brokers’ Claims, 1st Circuit Affirms

Mealey's (July 9, 2019, 3:52 PM EDT) -- BOSTON — The First Circuit U.S. Court of Appeals on July 3 affirmed a lower federal court’s ruling that an insurance policy’s specific litigation exclusion barred all coverage claims brought by two broker-dealers because the claims overlapped with previous cases filed against them (UBS Financial Services, Inc. of Puerto Rico, et al. v. XL Specialty Insurance Co., et al., No. 18-1148, 1st Cir., 2019 U.S. App. LEXIS 19946)....