Executive Risk Indemnity, Inc. v. Jones
California Court of Appeal
1Opinion of the Court
Opinion
RUVOLO, P. J.
I. INTRODUCTION
Respondent Executive Risk Indemnity, Inc. (ERII), issued a $10 million insurance policy to STARS Holding Company, Inc. (STARS, formerly known as myCFO, Inc.), providing coverage for claims arising from investment advice and financial planning services. Appellant Reese M. Jones (Jones), a former client of STARS, brought an arbitration proceeding against STARS to recover damages for faulty investment and financial planning advice STARS gave him. From the start, ERII was aware of Jones’s claim, and was repeatedly requested and encouraged to participate in the…
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