Lloyd's Trading Card Coverage Suit Heads To Trial

Law360, New York (July 20, 2010, 2:56 PM EDT) -- A federal judge has refused to hand underwriters at Lloyd's, London, a substantive ruling against a hobbyist they claim fraudulently procured a $2 million insurance policy on Marilyn Monroe trading cards that were damaged and worthless, but he did cull one counterclaim.

Judge Edward Reed of the U.S. District Court for the District of Nevada on Monday granted the underwriters' unopposed motion for partial summary judgment on a counterclaim for relief for tortuous breach of implied covenant of good faith and fair dealing.

The underwriters allege...
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