No Bond Or Policy Coverage For $2.6M Employee Theft, Federal Judge Rules

Mealey's (September 18, 2015, 2:29 PM EDT) -- DETROIT — A Michigan federal judge on Sept. 17 found that there is no coverage under a financial institution bond or an errors and omissions insurance policy for claims arising from the alleged $2.6 million theft committed by an employee of a financial services company (Hantz Financial Services, Inc., et al. v. National Union Fire Insurance Company of Pittsburgh, PA, et al., No. 13-11197, E.D. Mich.; 2015 U.S. Dist. LEXIS 124127).

(Opinion and order available. Document #13-150924-022Z.)

Employee Theft

From January 2000 until he committed suicide...
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