Prosper Marketplace v. Greenwich Ins. Co.
Plaintiff/respondent Prosper Marketplace, Inc. (Prosper), sought insurance coverage from its insurer, defendant/appellant Greenwich Insurance Company (Greenwich), for an underlying securities class action; Greenwich denied coverage and refused to defend. Following a bench trial solely on the issue of the duty to defend, the court concluded Greenwich had a duty to defend the underlying action up to the limits of its policy. Greenwich appeals the stipulated final judgment, contending the policy’s errors and omissions exclusion bars coverage of the underlying action. We reject the contention and affirm.
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