Professional Liability Blog
February 14, 2016
When Preparing Tax Returns Equals an Illegal Recommendation to Utilize Tax Shelters: The Limits of Professional Liability Coverage
IntroductionConcurrent causation can be a tricky doctrine to apply, but nonetheless is important in determining whether professional liability insurance will cover a claim. Generally speaking, concurrent causation mandates coverage if two causes—one covered by a policy, the other excluded by a policy—contribute to a loss. But, this simple formulation is not as straightforward as it first appears, as was recently demonstrated in the case of Financial Strategy Group, PLC v. Continental Cas. Co., 2015 WL 4635783 (6th Cir. 2015).