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California Appeals Court Holds That Insurer Can Rely on Voluntary-Parting Exclusion to Deny Coverage to Jewelry Owner who Mistakenly Gave Away $1.5 Million in Jewels

A California appeals court has ruled that an insurance company did not act in bad faith when it refused to reimburse a jewelry wholesaler for more than $1.5 million in property that the wholesaler claimed was mistakenly handed over to an individual who was merely posing as an armored-car agent. PNS Jewelry...