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New York Insurance Coverage Law Update – September 2021

September 23, 2021

Court Dismisses Claims Against Insurer For Bad Faith Failure To Settle, And For Consequential And Punitive Damages

Scottsdale issued a policy to Watershed Ventures, LLC, which included Directors and Officers Liability Coverage. Scottsdale filed a declaratory judgment action seeking a declaration that Patrick McGrath was not covered under the policy for a claim against McGrath. McGrath filed counterclaims for bad faith, and consequential and punitive damages, which the United States District Court for the Southern District of New York dismissed as a matter of law.

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