In CAMICO Mutual Insurance Co. v. Heffler, Radetich & Saitta, L.L.P., the United States Court of Appeals for the Third Circuit recently held that a $100,000 sub-limit for claims involving employee misappropriation, misuse, theft or embezzlement in a claims made accountants professional liability insurance policy applied, requiring the insured to repay litigation costs the insurer advanced in excess of the limit. The decision illustrates the risk insureds sometimes run when they rely on insurance for such costs... Continue Reading