2nd Circuit Stands By Ruling That Exclusion Bars Professional Liability Coverage

( March 25, 2026, 1:39 PM EDT) -- NEW YORK — The Second Circuit U.S. Court of Appeals on March 24 refused to reconsider its holding that a professional liability insurance policy’s fee exclusion bars coverage for a financial services company insured’s liability in two underlying class actions alleging that certain mortgage loan fees were unlawful and that the insured was derivatively liable under the Home Ownership and Equity Protection Act....

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