‘Entrustment’ Exclusion Bars Coverage For Theft, Vandalism Loss, Panel Affirms
(September 9, 2016, 11:51 AM EDT) -- MIAMI — A Florida appeals panel held Sept. 7 that a commercial insurance policy’s “entrustment” exclusion applies to a third-party’s actions as an insured’s tenant and precludes coverage for the insured’s theft and vandalism loss, rejecting the insured’s argument that the exclusion is ambiguous (Grover Commercial Enterprises, Inc., etc. v. Aspen Insurance UK, Ltd., et al., No. 3D14-1987, Fla. App., 3rd Cir.).
(Opinion available. Document #13-160915-011Z.)
Grover Commercial Enterprises Inc. leased its commercial property to Carma LLC for the purpose of operating a restaurant...