Jacobson And Kollross Win Dispute In Trial And Appellate Courts
April 24, 2012
The New Jersey Appellate Court upheld the award of summary judgment to Clausen Miller client (defendant insurers) holding that the plaintiff’s $16 million Madoff loss claims were not covered by property insurance policies issued by the insurers due to the unambiguous terms “money” and “securities” in the policies clearly encompassing plaintiff’s Madoff accounts. A fidelity exclusion in one of the policies also barred coverage for Madoff’s theft.
CM Partner Andrew C. Jacobson won summary judgment in the trial court while CM Partner Melinda S. Kollross successfully briefed and argued on appeal. Download related document