Ohio Panel: No Directors, Officers Liability Coverage Owed For Alleged Ponzi Scheme

(July 26, 2021, 1:44 PM EDT) -- CLEVELAND — An Ohio appeals panel on July 22 affirmed a lower court’s ruling that an insurer owes no directors and officers liability coverage for underlying reported and nonreported claims arising from an alleged Ponzi scheme, finding that each underlying lawsuit asserted that the insured and others “participated in a continuous and related pattern and practice of defrauding their employees for a period of over two years.”...

Attached Documents

Related Sections