Continental Casualty Co. v. Reed

MEMORANDUM AND ORDER

DEYITT, Chief Judge.

The basic issue posed by this Declaratory Judgments action seeking construction of an “errors and omissions” insurance policy covering the defendant corporate insurance agency is whether the claimed misconduct of the insured is excluded from coverage by the clause of the policy which excludes liability caused by the “dishonest, fraudulent, criminal and malicious action or omission of the insured.”

The jurisdictional requirements are met by the diversity of citizenship of the parties, and the requisite amount in controversy.

Plaintiff issued the “errors…