INSURERS - Duties - Duty to defend
Tuesday, May 30, 2017 @ 8:43 AM
Appeal by the insurers from a decision finding that they had a duty to defend their insured in an action for fraud, theft, misappropriation and wrongful conversion. The insured was a metal broker. In the action, the plaintiff, a nickel producer, alleged that the co-defendant stole nickel from the plaintiff and sold it to the insured. The insured, knowing that the product was stolen, fraudulently represented to a third party that it lawfully owned or possessed the stolen product, and subsequently resold the stolen product to...
