Banc of California Nat'l Ass'n v. Federal Insurance Company
Case Number:
21-56179
Court:
Nature of Suit:
Companies
Sectors & Industries:
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December 13, 2022
9th Circ. Revives Bank's $15M Scam Coverage Suit
The Ninth Circuit reversed a Chubb unit's win in a coverage suit over a bank's near $15 million loss after a woman pretended to be an aerospace giant's heir, saying the forged document used to obtain a loan satisfies the first of six elements required to obtain coverage.
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March 23, 2022
Bank Asks 9th Circ. To Revive Bid For $15M Scam Coverage
The Banc of California urged the Ninth Circuit to reverse a lower court's ruling and find that a Chubb unit must cover its nearly $15 million loss after a woman pretending to be an heir to an aerospace giant forged bank documents to secure a loan.