An insurance company is firing back at Jay Peak owner Ariel Quiros, disputing his claim that it has to fund his defense that tops $2 million as he fights off investor fraud lawsuits.
And, in a twist, Ironshore Indemnity Inc. is asking a judge to force Quiros to pay for its cost of defending itself from the lawsuit the Miami businessman brought seeking the coverage.
“Quiros is not entitled to relief to the extent he seeks coverage for self-dealing or fraudulent acts under the Policy,” Joseph G. Galardi, a Florida attorney representing the insurer, wrote in a recent filing.
Galardi raises several possible defenses to Quiros’ claim he is entitled to the coverage under a policy he had with the insurance company. The attorney also filed a counterclaim against Quiros, asking the judge to award Ironshore the cost associated with defending itself.