Louisiana High Court Refuses To Review Ruling In Suit Alleging Insured Stole Files

(November 20, 2023, 2:09 PM EST) -- NEW ORLEANS — The Louisiana Supreme Court refused to disturb a Louisiana appeals court’s finding that a residential mortgage broker’s electronic loan files are “tangible” under state law and, therefore, can be defined as “‘property’ that is susceptible to ‘loss of use’” under a competitor’s business liability insurance policy, allowing to stand the lower court’s reversal of a summary judgment ruling in favor of an insurer that intervened in the broker’s lawsuit alleging that its insured used stolen files to broker mortgage loans for its customers....