Tag archives: Intention

Intent is key to fidelity claim – US judgment

By Patrick Bracher (ZA) on February 16, 2015 Posted in Insurance

A New York appeals court referred a matter to trial on the issue whether a bank could seek coverage under a fidelity bond issued by an insurer for losses, after the bank’s employee mishandled a $20 million loan to a developer. The relevant issue is the employee’s intent. There would have to be evidence that the … Continue reading

Paperwork error not binding on insurer

By Patrick Bracher (ZA) on February 12, 2014 Posted in Insurance

Where the evidence demonstrates that a written contract does not express the true intention of the parties, the courts will read the contract as the parties intended it. A US supreme appeal court found that Harleysville Insurance Company did not have to cover a police officer under a section of their policy covering law enforcement … Continue reading