Jenner & Block

Client Advisory: Insurance Coverage for "Loss" Resulting from Securities-Fraud Claims: Recent Decision Awarding Coverage for Section 11 Claims Limits Application of Level 3

In this Client Advisory, Partners Matthew L. Jacobs and Lorelie S. Masters and Associate Joshua L. Kaul discuss a recent North Carolina Superior Court decision in which the court ruled that insurance coverage can apply to cover certain losses in securities-fraud claims, and that losses from such claims, which might include payments characterized as "disgorgement," are not barred from coverage unless the specific facts support such a finding.