Are Intentional Acts Covered by E&O Policy?

Are Intentional Acts Covered by an E&O Policy?
It should be obvious that intentional acts are not covered under a professional liability (E&O) insurance policy, but it is rare that a court rules on this question. The intentional acts exclusion in an E&O policy will normally read something like this:
…based upon, arising out of directly or indirectly, or in any way involvingintentional wrongdoing, fraud, dishonesty, criminal or malicious acts bythe Insured
In a recent case summarized by Wiley Rein (see here) a court ruled that intentional acts are not covered. In the case, a real estate appraiser had purchased an appraisers professional liability insurance policy and was facing lawsuits alleging a scheme to appraise property at higher than the true value.