Company’s ‘screw-ups’ no defense for late notice to insurer, 4th Circuit rules

A bank that found itself hit with a $98.5 million default judgment after the summons for a lawsuit lay unread for months on a departed employee’s desk will not be able to collect insurance coverage for the cost of having the judgment tossed out, the 4th U.S. Circuit Court of Appeals has ruled. A unanimous panel ...

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North Carolina Lawyers Weekly

Company’s ‘screw-ups’ no defense for late notice to insurer, 4th Circuit rules

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