Panel Affirms Coverage For $7M Fraud Loss Barred By Bond's Retroactive Date Rider

Panel Affirms Coverage For $7M Fraud Loss Barred By Bond's Retroactive Date Rider

ATLANTA - The 11th Circuit U.S. Court of Appeals on April 9 affirmed a lower court's finding that coverage for an insurance premium financing company's $7 million fraud losses is barred by the retroactive date rider in a financial institution bond (ABCO Premium Finance LLC v. American International Group Inc., et al., No. 12-14780, 11th Cir.).

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