Specific-Entity Exclusion Bars Coverage For SEC Suit, 6th Circuit Affirms

(March 18, 2024, 2:00 PM EDT) -- CINCINNATI — The Sixth Circuit U.S. Court of Appeals on March 15 held that an insurance policy’s specific-entity exclusion unambiguously bars coverage for an underlying investigation and enforcement action brough against the insured by the U.S. Securities and Exchange Commission, rejecting the insured’s argument that the policy is ambiguous....