Invalid Payments Exclusion Bars Coverage For $1.2M Gold Coin Loss, Insurer Says

Mealey's (June 10, 2021, 2:26 PM EDT) -- AUSTIN, Texas — After the Fifth Circuit U.S. Court of Appeals certified two questions in a coverage dispute over $1.2 million in stolen gold coins to the Texas Supreme Court, an insurer in a June 7 brief argues that an insurance policy’s “invalid payments exclusion” barred coverage for the insured’s loss....