Federal Insurance Co. News

2nd Circuit: Insurer Must Pay for Merchandise Lost in Warehouse’s Bankruptcy Sale

Chubb’s Federal Insurance Co. must pay more than $2 million to a fabric company that lost 22 trailer loads of merchandise when the Mississippi warehouse company that stored it filed for bankruptcy, sold the goods and pocketed the proceeds. A …

8th Circuit Finds No Coverage Owed in Separate Investor Schemes

In separate opinions, a federal appellate court affirmed rulings that insurers could dodge liability for wrongful acts by their policyholders because the actions were not covered by the policies. In a decision filed Sunday, a panel of the 8th Circuit …

Insurer for Pennsylvania-Based Sandusky Charity Argues Over Payouts

An insurance company for a charity founded by Jerry Sandusky argued in a federal complaint Friday that it should not have to pay legal expenses or claims for the former Penn State assistant football coach now accused of molesting children. …