Insured’s $29M Loss Arising From Employee Embezzlement Covered, 8th Circuit Rules

Mealey's (March 8, 2023, 2:21 PM EST) -- ST. LOUIS — The Eighth Circuit U.S. Court of Appeals on March 7 affirmed a lower federal court’s ruling in favor of an insured in a commercial crime insurer’s declaratory judgment lawsuit, agreeing with the lower court that the insured incurred a covered loss resulting directly from its employee’s theft....