Panel: No Coverage Owed To Securities Broker Dealer For $2.6M Employee Theft

Mealey's (November 11, 2016, 11:12 AM EST) -- CINCINNATI — The Sixth Circuit U.S. Court of Appeals on Nov. 9 affirmed a lower federal court's finding 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 insured's employee (Hantz Financial Services Inc., et al v. American Int'l Specialty, et al., No. 15-2237, 6th Cir.)....