Antitrust And Consumer Protection Laws Exclusions Bar Coverage For Underlying Litigation

The United States District Court for the District of Minnesota, applying Minnesota law, has held that a media tech policy's antitrust and consumer protection laws exclusions precluded coverage for the underlying litigation. Fair Isaac Corp. v. Certain Underwriters at Lloyd's London Subscribing to Beazley AFB Media Tech Policy Number W100FC171201, Syndicates 2623 and 623, 2022 WL 17670081 (D. Minn. Dec. 14, 2022).

The insured, the creator of a credit-scoring model, was named as a defendant in ten putative class actions filed by purchasers of its credit scores. The lawsuits alleged that the insured charged monopolistic prices and falsely disparaged competing credit score models in aggressive advertising campaigns. The two consolidated class action complaints filed on behalf of direct purchasers and indirect purchasers asserted causes of action for violations of the Sherman Act, state antitrust laws, and state unfair and deceptive trade practices laws, as well as