Lloyd’s Beats Florida Insurer in Appeal Over Investor Litigation

Lloyd’s of London beat out a Florida-based insurer for the second time in a dispute over defense costs for an investor lawsuit, but a federal appeals court took a different approach than a district judge in siding with Lloyd’s.

“The claims at issue were first made before the policy’s inception and, as a result, are excluded under the policy’s terms,” the US Court of Appeals for the Eleventh Circuit said in an unpublished opinion Wednesday.

The underlying investor dispute stemmed from the late 2017 sale of shares in single-purpose entities created to buy Anchor Insurance Holdings Inc. stock.

Shortly after ...