St. Paul Fire & Marine Insurance v. S. L. Nusbaum & Co.

This appeal requires us to examine, in the context of an “errors and omissions” policy insuring a real estate firm, the applicability of an exclusion of claims arising out of property management from coverage under the policy.

S. L. Nusbaum & Company, Inc., filed a motion for declaratory judgment, alleging that it was covered by a “professional liability” policy of insurance issued by St. Paul Fire & Marine Insurance Company, that Nusbaum was being sued by a party asserting a claim covered by the policy, but that St. Paul had refused to defend the claim. St. Paul’s answer raised several…