Camico Need Not Defend Accounting Firm, Judge Says

A federal judge has ruled that Camico Mutual Insurance Co. is no longer on the hook to defend accounting firm Heffler Radetich & Saitta in lawsuits relating to a former employee’s role in a $40 million scheme to defraud class action settlement funds, reported. U.S. District Judge Jan DuBois concluded June 27 that the criminal acts perpetrated by former firm accountant Christian J. Penta fell under sublimits in the insurance policy that capped the insurer’s responsibility at $100,000.