Panel: No Commercial Crime Coverage Because Insured Made Material Misrepresentation
Mealey's (September 9, 2016, 1:18 PM EDT) -- PASADENA, Calif. — The Ninth Circuit U.S. Court of Appeals on Sept. 1 affirmed a lower federal court’s summary judgment ruling in favor of commercial crime insurers in a Chapter 7 trustee’s breach of contract and bad faith lawsuit seeking to recover stolen money (Heide Kurtz, solely in her capacity as Chapter 7th Trustee for the Estate of Namco Financial Exchange Corp. v. Liberty Mutual Insurance Co., et al., No. 14-55931, 9th Cir.; 2016 U.S. App. LEXIS 16217).