Contractual Liability Exclusion Does Not Bar Coverage, 5th Circuit Affirms

Mealey's (May 10, 2023, 1:44 PM EDT) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on May 9 held that a claim for breach of fiduciary duty is not a claim for breach of contract and, as a result, a policy’s contractual liability exclusion does not preclude coverage for an underlying lawsuit brought against the insureds, affirming a lower federal court’s summary judgment ruling in favor of the insured....