Court’s Ruling ‘Eviscerated’ Blanket Crime Insurance, Insured Tells 8th Circuit

(May 10, 2016, 7:44 AM EDT) -- ST. LOUIS — An insured asks the Eighth Circuit U.S. Court of Appeals to reverse a federal court’s ruling that an insurer has no duty to indemnify it for $100 million in losses because, pursuant to a blanket crime insurance policy, it did not own any lost earnings stemming from a Ponzi scheme perpetuated by its investment advisers (3M Company, et al. v. National Union Fire Insurance Company of Pittsburgh, Pa, et al., No. 15-3495, 8th Cir.).

In 1999, 3M Co., 3M Employee Welfare Benefits Association...
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