1Under an indemnity insurance policy, where the definition of 'Loss' excludes 'fees, commissions, or other charges paid or due to the Insured', insurance premiums charged by the insured to customers constitute 'other charges' within that carve-out, and interest charged on amounts borrowed to pay those premiums is likewise an 'other charge' — the ejusdem generis maxim does not confine 'other charges' so as to exclude premiums or interest, particularly where the indemnity principle requires that an insured not recover amounts it was not entitled to retain.
2The manner in which a claimant formulates or pleads its case against the insured is not decisive of the rights and liabilities under the insurance contract; where settlement payments substitute for alleged liabilities to repay amounts the insured received (such as premiums, commissions and interest), the insured suffers no net loss and the indemnity principle precludes recovery under the policy regardless of whether the underlying claims are framed as compensatory or restitutionary.
3An exclusion clause barring indemnity for claims 'based on, arising out of, relating to or involving, directly or indirectly' the charging of 'excessive, undisclosed or otherwise improper' fees, commissions, costs or other charges is engaged where the underlying proceedings allege that products were sold without consent, without disclosure of material matters, or in circumstances involving conflicts of interest — even where the insured's receipt of the charges was not an essential element of the pleaded causes of action.
