Case Studies
Coverage Dispute Claim
HBA successfully defended a claim made by an insured, following on from an indemnity declinature it had recommended under a financial planner’s policy, for breach of fiduciary duties by the insured.
The insured, who was the trustee and manager of an investment fund, breached the terms of the information memorandum and caused the investment fund to suffer significant losses. As a result, a claim was made by the investors and the insured sought coverage under his professional indemnity policy.
We successfully persuaded the Court that the breach of fiduciary duties by the insured were wilful and that indemnity had correctly been declined on that basis.
