Tag Archives: National Union Fire insurance Company of Pittsburgh PA

Fifth Circuit Finds No Coverage Under Commercial Crime Policy Based on Narrow Construction of Undefined Terms

The Fifth Circuit recently upheld the dismissal on summary judgment of a policyholder’s claim under a commercial crime insurance policy, affirming the trial court’s narrow interpretation of the terms “owned” and “loss,” concluding that the policyholder did not “own” the funds at issue or suffer a “loss” when it loaned those funds to the fraudsters. … Continue Reading
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