AMERICAN v. HOFFMANN

The policy at issue excludes from coverage any claims based "in whole or in part" on acts "in connection with" a trust of which defendants are beneficiaries. This is an enforceable exclusion ( see American Guar, Liab. Ins. Co. v Lerner, 58 AD3d 523). Here, each claim in the underlying proceeding centered on the transfer of stock held by a trust for the petitioners therein to a trust created by defendants of which they were the sole trustees and beneficiaries. Because no claim fell outside the exclusion, there was no duty to defend or indemnify ( Atlantic Mut. Ins. Co. v Terk Tech. Corp., 309 AD2d 22).