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Financial Institutions Legal Snapshot

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Professional indemnity

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Insurers do not have to indemnify lawyer for overbilling claim (US)

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on May 31, 2018

A property foreclosure attorney was sued in a class action for overbilling a group of property owners. The lawyer sued his PI insurers to oblige them to defend him against the class action. He lost. The court found that the policy did not create a duty to defend because the allegations had arisen from billing…

Posted in Insurance

Failure of PI insured to report potential malpractice suit (US)

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on March 22, 2017

The question debated in a claim under a lawyers’ professional indemnity policy was whether the attorneys could have reasonably expected the underlying malpractice action and should have reported it to their insurers.

The insurers argued that a claim should have been expected from an expressly unhappy client. The attorneys said the suit was not reasonably…

Posted in Insurance

Attorney’s malpractice cover limited because only one claim (US)

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on February 5, 2017

An attorney’s professional indemnity policy had a per-claim limit of $500 000 and an aggregate limit of $1 million.

The attorney lost a $525 000 malpractice suit after a former client blamed the lawyer for being ousted from his company.

A claim was defined as a ‘demand made upon any insured for loss in service…

Posted in Insurance

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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