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On August 15th, the Second Circuit affirmed the dismissal of claims asserted by victims of Bernie Madoff's Ponzi scheme against their homeowner's insurance policy which included a "Fraud Safeguard" endorsement
On March 16th, the Fifth Circuit held that a separate parallel coverage action was required to determine whether D&O insurers were required to pay for the defense of individual defendants in the cases stemming from the alleged Ponzi scheme perpetrated by R. Allen Stanford
