Insurance Issues in ESOP Cases Become More Common

Insurance for ESOP companies and fiduciaries has become more common in recent years, with courts limiting claims often because of contract exclusions, as in Martin Resource Management Corp. v. Federal Insurance Co., (5th Cir., Aug. 6, 2021); Gemini Insurance v. Potts, No. 2:16-cv-612 (S.D. Ohio Jul. 15, 2020); and Great American Fidelity Insurance Company v. Stout Risius Ross, Inc., No. 19-cv-11294 (E.D. Mich., Aug 23, 2021).