Federal Judge: Insurer Has To Cover Losses Arising From $492,350 Embezzlement

Mealey's (November 16, 2016, 10:49 AM EST) -- NEW BERN, N.C. — A North Carolina federal judge held Nov. 14 that an insurer has a duty to pay its automotive retailer insured for the damages it sustained from the unlawful taking of $492,350.53, granting the insured’s motion for summary judgment in a crime coverage declaratory judgment dispute (Colony Tire Corp. v. Federal Insurance Co., No. 15-27, E.D. N.C.; 2016 U.S. Dist. LEXIS 156893)....