Coverage For Fraud Losses Barred By Retroactive Date Rider Provisions, Judge Rules

Coverage For Fraud Losses Barred By Retroactive Date Rider Provisions, Judge Rules

MIAMI - A financial institution bond's retroactive date rider provision precludes an insured's claim for losses caused by fraud, a Florida federal judge ruled Aug. 9, granting an insurer's cross-motion for summary judgment (ABCO Premium Finance LLC v. American International Group Inc., et al., No. 11-23020-CIV-SCOLA/BANDSTRA, S.D. Fla.; 2012 U.S. Dist. LEXIS 111833).

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