Blaneys Fidelity Year In Review 2015

Introduction

In 2015, American and Canadian courts released a number of decisions of interest to fidelity claims professionals.  Many of the decisions affirmed the coverage intent of fidelity insurers in the face of creative arguments from insureds.  Courts released several notable coverage decisions concerning the direct loss requirement; the employee theft coverage; the computer fraud and funds transfer fraud coverages; and the securities coverage, as well as specialized coverages under financial institution bonds.  Courts also released significant decisions concerning the inventory exclusion, the ownership condition and misrepresentation in the bond application, among other issues.