In Keybank National Association v. National Union Fire Ins. Company of Pittsburgh, PA, an interesting decision was issued by the New York Appellate Division, First Department recently in which the court considered whether the lower court erred in denying summary judgment to a fidelity bond insurer on a coverage claim. The decision involved questions of what constitutes “manifest intent”, within the meaning of the fidelity bond, to cause the insured to sustain a loss, or create a benefit for oneself so as to trigger …
Continue Reading