Stern insurer wants out of policy, says it doesn't cover claims involving "fraud"

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Stern insurer wants out of policy, says it doesn’t cover claims involving “fraud”

Stern insurer wants out of policy, says it doesn’t cover claims involving “fraud”

Oh it’s getting hard to escape this word connected to Mr. Stern. Just last month GMAC dropped a bombshell of it’s own in case you missed it.

Kim Miller-

An insurer for former foreclosure giant David J. Stern wants out of its policy, saying in a lawsuit that the company doesn’t cover “claims based upon, arising out of, directly or indirectly resulting from or in consequence of, or in any way involving a dishonest, fraudulent, criminal, or malicious act or omission.”

Admiral Insurance Company filed a lawsuit Thursday in the United States District Court, Southern District of Florida, saying it shouldn’t be responsible for defense expenses in two class-action claims filed against Stern in Palm Beach County. Stern had a $3 million policy with Admiral that expired last year.

[PALM BEACH POST]

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