A $33.5 million settlement. $20 million of insurance.
A private equity firm settled a lawsuit for $33.5 million and sought to recover under two policies. Its insurers paid $20 million in total, legal fees included, because clauses in the policies stopped the two limits from being added together. The firm sued its broker. The decision did not make a final finding that the broker was negligent.
What we check for you: Whether your policies can be combined, and how much of each limit legal fees can use up, before you count on the total.
New York Appellate Division opinion, June 28, 2011



