Insurer Says Sotheby’s Owed No Defense For Condo Sale Suit

January 28, 2022 Admin

By Ben Zigterman (January 28, 2022, 3:22 PM EST) — General Star National Insurance Co. told a Florida federal judge that it has no duty to defend a Sotheby’s realty unit facing a draft lawsuit accusing one of its agents of pocketing $3.7 million of a condo sale’s proceeds.

In a reply Thursday to One Sotheby’s motion to dismiss the suit, the insurer said that its willingness to defend the realty group did not mean it admitted a duty to defend, as the insurer reserved its right to deny coverage.

“The reservation of rights letter expressly states that General Star’s continued defense of One Sotheby’s shall not be construed as a…

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