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Home / Opinion / 10-3015 Universal Mortgage Corp. v. Wurttembergische Versigherung AG

10-3015 Universal Mortgage Corp. v. Wurttembergische Versigherung AG

Insurance Bankers bonds; Employee misconduct When an insured incurs liability to a third party -- whether in contract or tort -- as a result of employee misconduct, financial loss resulting from that liability is not “directly” caused by the employee misconduct and therefore is not covered by fidelity bonds containing direct-loss language. “The particular bond at issue in ...

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