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D & O policy doesn’t cover RICO claims

D & O policy doesn’t cover RICO claims

D & O policy doesn’t cover RICO claims

A federal District Court in Colorado has held that a homeowner association’s directors and officers liability insurance does not cover a claim for violation of state and federal anti-racketeering laws because the policy specifically excludes liability based upon any intentionally dishonest or fraudulent act. An officer/director of the Riverdale Peaks Homeowners Association and his wife, who was also a member of the Association, were sued for violation of the federal Racketeer Influenced and Corrupt Organization Act (RICO) and the Colorado Organized Crime and Control Act by a business and a woman who complained that they were involved in a conspiracy to conduct unlawful acts, an attempt to...

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