In recent years, newspaper headlines have focused on a variety of financial scandals that have unfolded over long periods of time. The largest Ponzi scheme in history, arising from the activities of former NASDAQ chairman Bernard Madoff, resulted in $50 billion of investor losses over 15 years.
Lengthy Crimes, Limited Coverage: Recent Case Law Follows the 'One Policy Limit' Approach
The recent decisions in <i>Madison Materials</i>, <i>PBSJ</i>, and <i>Hartman & Tyner</i> provide further support for the majority view that coverage for a multi-year crime is limited to one policy period despite successive policies in effect during the crime.
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